Cost of Living in Shelby, NE

With a cost of living index of 57, Shelby, NE is one of the most affordable cities in the country. Living here is 43% cheaper than the national average and 15% below the Nebraska state average of 72. Shelby is a small community of 709 residents.

Housing costs are the biggest factor in Shelby's cost of living. The median monthly rent is $521 (61% below the US median of $1,319), and the median home value sits at $112,200 (63% below the national median of $304,900). At current prices, the median home costs roughly 1.5x the median household income — well within traditional affordability guidelines.

The median household income in Shelby is $75,795, which is 1% higher than the national median of $75,149. Residents spend roughly 8% 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 Shelby. 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.

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.