A+
15%
Overall NAT. AVG.
10%
Goods & Services NAT. AVG.
28%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index North Platte Nebraska National
Cost of living8589100
Goods & Services9096100
Groceries9396100
Health care9798100
Housing7276100
Transportation96100100
Utilities8086100

An Overview of Cost of Living in North Platte, NE

Understanding the cost of living in North Platte can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The North Platte cost of living index is 85, which is 15% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

What Do Locals Say About the Cost of Living in North Platte?

The real experts on a city are its residents. That's why we reached out to 102 locals to get their views on the cost of living in North Platte. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 61% found it budget-friendly with decreasing prices, while 39% said it's simply not affordable as prices have continued to rise.

Is North Platte Affordable?

Is North Platte affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take North Platte, for instance, where the median home price falls 31.6% lower than the national average, and monthly rent rates are 18.4% lower than usual. Additionally, median income levels contribute to the equation, with North Platte flaunting a median household income of $52,653, 4.8% lower than the national norm.

What Factors can Influence the Cost of Living in North Platte?

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In North Platte, the utilities index registers at 20% lower than the national average.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In North Platte, the transportation index stands at 4.3% lower than the national average.

Where is the Data From?

The cost of living data in North Platte displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in North Platte is 5% lower than the Nebraska average
  • The cost of living in North Platte is 15% lower than the national average
  • North Platte housing is 28% lower than the national average
  • Nebraska general sales tax is 8% higher than the national average
  • Nebraska state income tax is 9% higher than the national average

Most Affordable Places to Live in and Around North Platte

See all the best places to live around North Platte

Compare North Platte, NE Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$70,163$5,847$1,637$2,105
      Renters$35,033$2,919$817$1,051
      A good way to judge both the affordability of the housing and the cost of living in North Platte is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. North Platte has a median income of about $70,163 for people who own homes. Based on that number, a maximum of $1,637 should be spent on expenses related to housing. Renters have a slightly different median income, which is $35,033. Based on this average, renters should spend no more than $817 on all rental costs if they want to maintain a non-impoverished standard of living.

      Nebraska Sales Tax

      State General Sales Tax With Max Surtax
      Nebraska 5.5% 7.5%

      Nebraska Income Tax

      State Income Tax (Low) Income Tax (High)
      Nebraska 2.46% 6.84%

      Goods & Services

      Item North Platte National avg. Difference
      Haircut $17.50$24.2627.9%
      Beauty Salon $28.75$45.5636.9%
      Toothpaste $3.67$3.701.0%
      Shampoo $0.98$1.2823.5%
      Movie $9.10$12.1325.0%
      Bowling $11.33$18.0037.0%

      Groceries

      Item North Platte National avg. Difference
      Ground Beef $6.66$5.8414.0%
      Fried Chicken $1.41$1.5710.4%
      Milk $4.49$4.674.0%
      Potatoes $4.49$4.939.1%
      Pizza $11.34$12.096.2%
      Beer $9.34$10.4110.3%

      Health Care

      Item North Platte National avg. Difference
      Optometrist $128.50$125.682.2%
      Doctor $139.89$135.783.0%
      Dentist $97.50$113.2913.9%
      Ibuprofen $10.22$10.654.0%
      Lipitor $518.77$468.6010.7%

      Housing

      Item North Platte National avg. Difference
      Home Price $126,400.00$184,700.0031.6%
      Avg. Mortgage Payment $1,926.53$2,346.6917.9%
      Apartment Rent $774.00$949.0018.4%

      Transportation

      Item North Platte National avg. Difference
      Gasoline $3.36$3.462.9%
      Tire Balancing $55.44$59.927.5%

      Utilities

      Item North Platte National avg. Difference
      All Electricity $126.33$193.9934.9%
      Phone $199.27$192.253.7%
      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 Population Cost of Living Index National Avg.
      Maxwell, NE2528019.5%
      Hershey, NE6048415.7%
      North Platte, NE23,7348515.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Monsey, NY23,73316666.1%
      Corsicana, TX23,736918.6%
      Oro-Medonte, ON23,738n/a 
      Fresno, TX23,7451076.8%
      Rosemont, CA23,75512928.7%
      North Platte, NE23,7348515.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.