Cost of Living in Newcastle, NE

With a cost of living index of 60, Newcastle, NE is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 12% below the Nebraska state average of 72. Newcastle is a small community of 329 residents.

Housing costs are the biggest factor in Newcastle's cost of living. The median monthly rent is $663 (50% below the US median of $1,319), and the median home value sits at $101,800 (67% below the national median of $304,900). At current prices, the median home costs roughly 1.3x the median household income — well within traditional affordability guidelines.

The median household income in Newcastle is $76,250, which is 1% higher than the national median of $75,149. Residents spend roughly 10% 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 Newcastle. The area sees an average annual temperature of 48.7°F, with summers averaging 73°F and winters around 23°F. Annual rainfall totals 28.7 inches spread over roughly 88 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.