The 10 Most Expensive Places To Live In Nebraska For 2023

The 10 Most Expensive Places To Live In Nebraska For 2023

1. Lincoln

The median income in Lincoln comes in at $62,566 and the median home value is $193,800 for 2023.

2. La Vista

The median income in La Vista comes in at $70,310 and the median home value is $186,200 for 2023.

3. Omaha

The median income in Omaha comes in at $65,359 and the median home value is $177,700 for 2023.

4. Norfolk

The median income in Norfolk comes in at $52,021 and the median home value is $163,500 for 2023.

5. Wayne

The median income in Wayne comes in at $46,610 and the median home value is $136,500 for 2023.

6. Kearney

The median income in Kearney comes in at $62,695 and the median home value is $192,200 for 2023.

7. Ralston

The median income in Ralston comes in at $64,735 and the median home value is $165,800 for 2023.

8. Grand Island

The median income in Grand Island comes in at $58,162 and the median home value is $157,400 for 2023.

9. Plattsmouth

The median income in Plattsmouth comes in at $52,109 and the median home value is $130,400 for 2023.

10. Bellevue

The median income in Bellevue comes in at $73,534 and the median home value is $179,300 for 2023.

Methodology: How We Determined The Most Expensive Places To Live In The Cornhusker State For 2023

The two most important things to think about when it comes to being able to afford if you can live comes down to:

1. How much do money do I make?
2. How much do I have spend to live there?

You need to understand your costs in the context of how much money you make.

For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.

With that example in mind, we derived several statistics from the latest Census American Community Survey 2017-2021 around incomes and costs. They are:

• Median Home Price / Median Income (lower is better)
• Median Income / Median Rent (Higher is better)
• Median Home Price

We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).

You can then compare these metrics in each of the places in Nebraska to figure out which is the most expensive.

What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.

So we used that cost of living index in order to rank all of the 32 places in Nebraska that have more than 5,000 people.

The place with the highest cost of living in Nebraska according to the data is Lincoln. You can download the data here.