Grand Island cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexGrand IslandNebraskaNational
Cost of living index8790100
IndexGrand IslandNebraskaNational
Goods & Services index9195100
Groceries index104100100
Health care index99101100
Housing index6775100
Transportation index10098100
Utilities index9591100
An overview of the general cost of living index for Grand Island, NE is displayed above for your reference. Residents in Grand Island, NE enjoy a cost of living index of 87. This index is 3% lower than the Nebraska average, and 13% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Grand Island, NE, the average cost of goods and services is 4% lower than it is in Nebraska, and it is 9% lower than the national average.

Did you know?

  • The cost of living in Grand Island is 3% lower than the Nebraska average.
  • The cost of living in Grand Island is 13% lower than the national average.
  • The cost of housing in Grand Island is 33% lower than the national average.
  • Nebraska general sales tax is 8% higher than the national average.
  • Nebraska state income tax is 11% higher than the national average.

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Compare Grand Island, NE Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Grand Island, NE to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Grand Island, NE, then you would need to earn more income in order to maintain the same standard of living. To use the Grand Island, NE salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$56,951$4,746$1,329$1,709
Renters$31,661$2,638$739$950
If you want to find a good determining factor for the cost of living and the general affordability of housing in Grand Island, NE, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Grand Island, NE, the median monthly income is $56,951 for those who own their own homes. Under the standard rule, that income level would allow for $1,329 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $31,661, per the median income in the area. That would allow for renters to spend up to $739 on monthly rental expenses.

Nebraska Sales Tax

StateGeneral Sales TaxWith Max Surtax
Nebraska5.5%7.5%

Nebraska Income Tax

StateIncome Tax (Low)Income Tax (High)
Nebraska2.46%6.84%
When you are determining the total cost of living in Grand Island, NE you will want to make sure you consider both the Nebraska sales tax and the Nebraska income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Nebraska is 5.5%, with the highest surtax being 7.5%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Nebraska have a range from 2.46% to 6.84%.

Goods & Services

ItemGrand IslandNational avg.Difference
Haircut $10.67$14.5926.9%
Beauty Salon $17.67$34.6849.0%
Toothpaste $2.62$2.475.9%
Shampoo $1.03$1.020.8%
Movie $8.50$9.8713.9%
Bowling $2.99$4.3931.9%

Groceries

ItemGrand IslandNational avg.Difference
Ground Beef $4.55$4.481.6%
Fried Chicken $1.99$1.4635.9%
Milk $2.34$2.360.7%
Potatoes $2.92$3.064.6%
Pizza $8.99$9.242.7%
Beer $7.85$8.639.1%

Health Care

ItemGrand IslandNational avg.Difference
Optometrist $90.33$99.789.5%
Doctor $102.00$105.032.9%
Dentist $85.00$88.704.2%
Ibuprofen $9.72$9.413.3%
Lipitor $317.32$298.506.3%

Housing

ItemGrand IslandNational avg.Difference
Home Price $113,500.00$175,700.0035.4%
Avg. Mortgage Payment $1,112.59$1,081.032.9%
Apartment Rent $653.00$920.0029.0%

Transportation

ItemGrand IslandNational avg.Difference
Gasoline $2.12$2.091.6%
Tire Balancing $43.32$45.294.3%

Utilities

ItemGrand IslandNational avg.Difference
All Electricity$104.21$170.8039.0%
Phone $39.95$28.2641.4%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Phillips, NE23578-22%
Chapman, NE28280-20%
Dannebrog, NE34782-18%
Giltner, NE39883-17%
Alda, NE63584-16%
Grand Island, NE50,05987-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Palm Beach Gardens, FL50,14711919%
Troy, NY49,9651022%
Palm Desert, CA49,95312525%
West Sacramento, CA49,94611717%
Apple Valley, MN49,91111010%
Grand Island, NE50,05987-13%
Source: The Grand Island, NE cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.