Cost of Living in Lincoln, ND

With a cost of living index of 90, Lincoln, ND is a very affordable place to live. Living here is 10% cheaper than the national average and 15% above the North Dakota state average of 74. Lincoln is a small community of 4,309 residents.

Housing costs are the biggest factor in Lincoln's cost of living. The median monthly rent is $1,222 (7% below the US median of $1,319), and the median home value sits at $259,400 (15% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Lincoln is $83,387, which is 11% higher than the national median of $75,149. Residents spend roughly 18% 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 Lincoln. The area sees an average annual temperature of 43.1°F, with summers averaging 69°F and winters around 16°F. Annual rainfall totals 19.1 inches spread over roughly 100 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Bismarck, ND (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.