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Cost of Living in Lincoln

Is it better to rent or buy in Lincoln? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$60,642
$842/mo

Median in area: $842

$132,667

Median in area: $132,667

$26,533

If you Rent

🔑
$1,066 /mo
Base Rent$842
Est. Utilities$224
% of Income21.1%
Pre-tax Residual$3,988

If you Buy

🏠
$1,268 /mo
P&I (7.524%)$744
Taxes & Ins$300
Est. Utilities$224
% of Income25.1%
Pre-tax Residual$3,786

Cost of Living FAQs

Is it cheaper to rent or buy in Lincoln?›

Based on median housing data, renting is currently more affordable on a monthly basis in Lincoln. The estimated all-in monthly cost for renting is $1,066, while owning a median-priced home with a 20% down payment is roughly $1,268 per month (a difference of $202).

How much do utilities cost in Lincoln?›

The average monthly utility cost (electricity and natural gas) for a typical home in Lincoln is approximately $224. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Lincoln?›

To comfortably afford the median rent and utilities in Lincoln without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $42,640 per year.