Cost of Living in O'Neill, NE

With a cost of living index of 64, O'Neill, NE is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 8% below the Nebraska state average of 72. O'Neill is a small community of 3,574 residents.

Housing costs are the biggest factor in O'Neill's cost of living. The median monthly rent is $712 (46% below the US median of $1,319), and the median home value sits at $130,900 (57% below the national median of $304,900). At current prices, the median home costs roughly 2x the median household income — well within traditional affordability guidelines.

The median household income in O'Neill is $66,458, which is 12% lower 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. 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 O'Neill. The area sees an average annual temperature of 49°F, with summers averaging 72°F and winters around 26°F. Annual rainfall totals 23.8 inches spread over roughly 91 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.