Cost of Living in Otoe, NE

With a cost of living index of 74, Otoe, 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. Otoe is a small community of 228 residents.

Housing costs are the biggest factor in Otoe's cost of living. The median monthly rent is $1,297 (2% below the US median of $1,319), and the median home value sits at $39,200 (87% below the national median of $304,900). At current prices, the median home costs roughly 1.1x the median household income — well within traditional affordability guidelines.

The median household income in Otoe is $36,548, which is 51% lower than the national median of $75,149. Residents spend roughly 43% of household income on rent. This is well above the 30% affordability threshold, indicating a significant housing cost burden for many residents. 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 Otoe. The area sees an average annual temperature of 51.2°F, with summers averaging 74°F and winters around 27°F. Annual rainfall totals 32.3 inches spread over roughly 111 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.