A+
15%
Overall NAT. AVG.
10%
Goods & Services NAT. AVG.
29%
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 Hastings Nebraska National
Cost of living8589100
Goods & Services9096100
Groceries9396100
Health care9798100
Housing7176100
Transportation96100100
Utilities8086100

An Overview of Cost of Living in Hastings, NE

Getting a feel for the cost of living in Hastings is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Hastings is 85, which is 15% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

What Do Locals Say About the Cost of Living in Hastings?

Nobody knows their city better than the people who actually live there. So, we asked 106 local residents how they would rate the cost of living in Hastings and this is how they responded. 79% of people said that the cost of living was affordable, with prices decreasing, while 21% of people said that the cost of living was very expensive and prices continue to rise.

Is Hastings Affordable?

Is Hastings an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Hastings, the median home price is 31.1% lower than what most folks pay across the country, and monthly rent prices are 23.1% lower than the usual rates. Income levels in Hastings come in at $52,747, which is 4.7% lower than the national average.

What Factors can Influence the Cost of Living in Hastings?

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Hastings, the utilities index registers 20% lower than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Hastings, the transportation index is 4.3% lower than the national average.

Where is the Data From?

The cost of living data in Hastings 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 Hastings is 5% lower than the Nebraska average
  • The cost of living in Hastings is 15% lower than the national average
  • Hastings housing is 29% lower than the national average
  • Nebraska general sales tax is 8% higher than the national average
  • Nebraska state income tax is 5% lower than the national average

Most Affordable Places to Live in and Around Hastings

See all the best places to live around Hastings

Compare Hastings, 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$71,539$5,962$1,669$2,146
      Renters$28,879$2,407$674$866
      The affordability of the housing market in Hastings, NE as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Hastings homeowners, the median income is $71,539. This indicates that a monthly maximum of $1,669 should be spent by homeowners on all housing related costs. Renters have a median income of $28,879. This indicates that renters would have a maximum of $674 for their rent related monthly costs.

      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% 6.64%

      Goods & Services

      Item Hastings 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 Hastings 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 Hastings 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 Hastings National avg. Difference
      Home Price $127,300.00$184,700.0031.1%
      Avg. Mortgage Payment $1,926.53$2,346.6917.9%
      Apartment Rent $730.00$949.0023.1%

      Transportation

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

      Utilities

      Item Hastings 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.
      Inland, NE0909.6%
      Prosser, NE1157525.1%
      Holstein, NE2777722.6%
      Ayr, NE1087821.7%
      Glenvil, NE3807821.6%
      Hastings, NE24,8788515.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Kernersville, NC24,8761010.6%
      Sturgeon County, AB24,881n/a 
      South Bradenton, FL24,8859010.4%
      Elk River, MN24,8941054.9%
      Bainbridge Island, WA24,85918787.5%
      Hastings, NE24,8788515.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.