Norfolk, NE

Very Low · 62

Nebraska · Population 25,962 · Updated March 2026

$850
Median Rent / Month
$62,175
Median Income
$199,100
Median Home Value
$923
Owner Costs / Month

Affordability

How far your income goes in Norfolk

16.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Nebraska

State-level tax rates that affect your costs

6.64%
Income Tax (Top Rate)
5.5%
Sales Tax
1.73%
Property Tax Rate

Estimated Annual Costs

$10,200
Annual Rent
$4,128
State Income Tax
$3,444
Property Tax (est.)

Cost of Living Overview

Norfolk is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 62 (where 100 equals the national median), Norfolk residents can expect to pay median rent of $850/month while earning a median household income of $62,175/year.

The median home value in Norfolk, NE is $199,100, with typical monthly owner costs around $923 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Nebraska has a moderate income tax rate of 6.64%. Combined with a 5.5% sales tax rate and 1.73% effective property tax rate, the overall tax environment is a factor in the total cost of living in Norfolk.

Frequently Asked Questions

Common questions about living costs in Norfolk

What is the cost of living in Norfolk, NE?
The cost of living index in Norfolk, NE is 62 (US average = 100). Median monthly rent is $850, median household income is $62,175/year, and the median home value is $199,100.
Is Norfolk, NE affordable?
Yes, Norfolk is more affordable than the national average with a cost index of 62. The rent-to-income ratio is 16.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Norfolk, NE?
The median gross rent in Norfolk, NE is $850 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,200.
What is the median household income in Norfolk?
The median household income in Norfolk, NE is $62,175 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Nebraska?
Nebraska has a top income tax rate of 6.64%, a sales tax of 5.5%, and an effective property tax rate of 1.73%.