When you are ready to retire, you need to make the most of your budget. Finding a location that is within your budget is ideal. According to Forbes, the cost of living in Omaha is very affordable since it is 6.1 percent below the national average.
Below is an outline of all the major expense categories and how much they average in Omaha. This breakdown will help you find ways to save money.
The median home value was around $150,600 last year and this value is up 6.6 percent over last year. Zillow predicts the housing market prices in Omaha will continue to grow by 2.7 percent during the next year. As of February 2017, the average rent for an apartment in the city of Omaha was $922. One-bedroom apartments rent for around $784 a month, and two-bedroom units rent for approximately $1,022.
Consumers pay a little lower for groceries than the national average. Shoppers pay around $2.33 for a gallon of milk, $4.53 for a pound of ground beef, and $8.99 for a pizza.
The average gas price in Omaha was $1.92 a gallon, which is slightly lower than the national rate. Retirees don’t typically drive as much because they no longer need the daily commute to get to work.
You can save money by riding public transportation. A 30-day pass for seniors in Omaha costs $27.50.
The average rate for car insurance in Nebraska was around $900 a year. These rates can depend on your driving record, type and year of your vehicle, the amount of coverage, and discounts on your policy. You can get discounts for bundling your home and auto policy and also not driving as much.
The cost of senior care is mostly lower than the national average with a few exceptions. Assisted living care in Omaha was around $48,000 annually, which is slightly higher than the national average rate of $46,000. The national average cost for nursing home care is $80,300 for a semi-private room and $91,250 for a private room. Nursing home care costs in Omaha are considerably lower with rates of $70,810 for a semi-private room and $79,000 for a private room.
Adult day care services are lower than the national average with rates in Omaha of about $13,000. Home health aide costs average $53,770 in Omaha, which is higher than the national average of $46,000.
You will want to make sure you have the best rates for all your services by shopping around. The rates of insurance and your utilities could vary by company. Find housing that allows you to walk to your destinations, and you will save money.
Find assisted living in Omaha near you.