Living in Farnam, Nebraska
Cost of living, income, home prices, rent and demographics of Farnam · Census data 2020–2024
Farnam has 257 residents with a median age of 28.8. The median household income is $45,417 (41% lower than the Nebraska median), the median home value is $62,800, the median rent is $820/month.
Farnam is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Farnam at a glance
- Population
- 257
- Median age
- 28.8State: 37.2
- Median household income
- $45,417State: $76,475
- Median home value
- $62,800State: $238,600
- Median rent
- $820/moState: $1,072
- Homeowners
- 67.1%
- Bachelor's degree or higher
- 14.3%
- Average commute
- 24 min
Is Farnam a good place to live?
Pros: Home values 74% lower than the state median.
Cons: Median household income 41% lower than the Nebraska median; an average commute of 24 minutes; a poverty rate of 32.4%.
The weather is best in May–June and August–September.
Cost of living in Farnam
Housing is the biggest part of the cost of living. In Farnam the median home value is $62,800, 81% lower than the U.S. median. Renters pay a median of $820 per month, which is 25% of household income. Homeowners with a mortgage pay — a month in housing costs.
Farnam median household income
The median household income in Farnam is $45,417 and the income per person is $25,860. 32.4% of residents live below the poverty line (Nebraska: 10.6%).
Housing in Farnam: homes for sale and rent
- Housing units
- 86
- Owner-occupied
- 67.1%
- Renter-occupied
- 32.9%
- Vacant
- 1.2%Includes seasonal homes
- Median year built
- 1954
- Average household size
- 3.02
Farnam demographics
- Population
- 257
- Median age
- 28.8
- Under 18
- 33.1%
- 65 and older
- 17.1%
- Households
- 85
- Foreign-born
- 1.2%
- Veterans
- 3.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Farnam ›
Education in Farnam
14.3% of adults 25 and older in Farnam have a bachelor's degree or higher (Nebraska: 34.6%), and 7.9% have a graduate or professional degree.
Jobs and commute in Farnam
- Unemployment rate
- 0%State: 3%
- Average commute
- 24 minState: 19 min
- Work from home
- 7.1%
- Drive alone
- 76.8%
- Public transit
- 0%
- Walk to work
- 1.8%
- Homes with broadband
- 91.8%
Farnam vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Farnam | 257 | $45,417 | $62,800 | $820 |
| Eustis | 431 | $88,750 | $155,900 | $1,028 |
| Gothenburg | 3,452 | $79,219 | $191,000 | $883 |
| Cozad | 3,937 | $54,471 | $121,600 | $851 |
| Curtis | 769 | $58,750 | $149,100 | $590 |
| Elwood | 534 | $66,389 | $183,300 | $750 |
| Maywood | 266 | $71,250 | $103,100 | $825 |
| Brady | 470 | $80,833 | $151,200 | $1,083 |
| Lexington | 10,862 | $67,666 | $159,100 | $966 |
More for people moving to Farnam
Farnam ZIP code ›Weather and climate ›Living in Farnam: FAQ
What is the median household income in Farnam, NE?
The median household income in Farnam is $45,417, 41% lower than the Nebraska median of $76,475 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Farnam?
The median home value in Farnam is $62,800, compared with $238,600 in Nebraska.
How much is rent in Farnam?
The median gross rent in Farnam is $820 per month, about 25% of household income.
Is Farnam, NE a good place to live?
Pluses: home values 74% lower than the state median. Minuses: median household income 41% lower than the Nebraska median; an average commute of 24 minutes; a poverty rate of 32.4%.
What is the median age in Farnam?
The median age in Farnam is 28.8 years (Nebraska: 37.2).
How long is the commute in Farnam?
The average commute to work in Farnam is 24 minutes; 7.1% of workers work from home.
What is the unemployment rate in Farnam?
The unemployment rate in Farnam is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Farnam?
14.3% of adults in Farnam have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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