Cost of Living in Norfolk, NE

With a cost of living index of 74, Norfolk, NE is one of the most affordable cities in the country. Living here is 26% cheaper than the national average and in line with the Nebraska state average. With a population of 25,962, Norfolk is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Norfolk's cost of living. The median monthly rent is $850 (36% below the US median of $1,319), and the median home value sits at $199,100 (35% below the national median of $304,900). At current prices, the median home costs roughly 3.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Norfolk is $62,175, which is 17% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Norfolk. The area sees an average annual temperature of 49.2°F, with summers averaging 73°F and winters around 25°F. Annual rainfall totals 27 inches spread over roughly 98 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.