Cost of Living in Spalding, NE

With a cost of living index of 59, Spalding, NE is one of the most affordable cities in the country. Living here is 41% cheaper than the national average and 13% below the Nebraska state average of 72. Spalding is a small community of 389 residents.

Housing costs are the biggest factor in Spalding's cost of living. The median monthly rent is $655 (50% below the US median of $1,319), and the median home value sits at $92,200 (70% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Spalding is $54,250, which is 28% lower than the national median of $75,149. Residents spend roughly 14% 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 Spalding. 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.