Cost of Living in Malcolm, NE

With a cost of living index of 79, Malcolm, NE is a very affordable place to live. Living here is 21% cheaper than the national average and 7% above the Nebraska state average of 72. Malcolm is a small community of 428 residents.

Housing costs are the biggest factor in Malcolm's cost of living. The median monthly rent is $893 (32% below the US median of $1,319), and the median home value sits at $239,800 (21% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Malcolm is $84,712, which is 13% higher than the national median of $75,149. Residents spend roughly 13% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Malcolm. The area sees an average annual temperature of 52.3°F, with summers averaging 76°F and winters around 28°F. Annual rainfall totals 29.3 inches spread over roughly 95 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Lincoln, NE (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.