Study: Nebraska Among Top 5 Most Affordable StatesFebruary 13, 2019
Certain cities such as New York and San Francisco are known for their sky-high rent and pricey meals.
Though major metro areas like these have plenty of culture, attractions and other perks to offer, they are often some of the least affordable places to live.
In turn, the states where they are found also tend to be the most costly in the nation.
The cost of living takes into account the prices of different goods and services, whereas housing affordability considers how expensive home prices are in relation to the median family income.
A state's affordability is an important consideration for a business and its employees. U.S. News and World Report in 2018 compared the cost of living in all 50 states. The publication determined which states are the most affordable based on cost of living (prices of different goods and services) and housing affordability (home prices in relation to the median family income). According to the comparison, Nebraska was the fifth most affordable state overall. The Cornhusker State was No. 13 in the cost of living category, but fourth best for housing affordability. The study's top five were Big Ten states with Ohio at No. 1, followed by Indiana, Iowa, Michigan and Nebraska
Cost of living rank: No. 13
Housing affordability rank: No. 4
Median income: $30,391
Average home price: $304,636
Ground beef: $3.44