Elko, NV Cost Of Living
Cost Of Living In Elko, NV Summary
Cost of living in Elko research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Elko is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Nevada, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Elko is 99, with 100 being the average.
The cost of living index in Elko is 1.0x lower than the national average.
Elko ranks as the #8 cheapest in Nevada out of 33.
Elko ranks as the #3,027 cheapest out of 6,412 in the US.
The median home value in Elko is $234,500.
The median income in Elko is $80,148.
Table Of Contents
Elko's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Elko, NV?
According to the most recent data on the cost of living, Elko has an overall cost of living index of 99, which is 1.0x lower than the national index of 100.
Compared to Nevada, Elko has a cost of living index that's 1.0x lower than Nevada's index of 101.
The standard of living in Elko ranks as #8 most affordable out of the 33 places we measured in Nevada. By definition, that implies Elko ranks as the #25 most expensive place in the Silver State.
For more reading on life in Elko, check out:
- Living In Elko
- Elko Crime Report
- Search Homes For Sale In Elko, NV
In Nevada
In America
Elko Cost Of Living Vs. Nevada
Six factors go into calculating the cost of living index in Elko. Here is how it fairs on each of the criteria:
The Services index in Elko is 89.
The Groceries index in Elko is 94.
The Health index in Elko is 93.
The Housing index in Elko is 113.
The Transportation index in Elko is 100.
The Utilities index in Elko is 81.
| Living Expense | Elko | Nevada | National Average | |
|---|---|---|---|---|
| Overall | 99 | 101 | 100 | |
| Services | 89 | 91 | 100 | |
| Groceries | 94 | 103 | 100 | |
| Health | 93 | 93 | 100 | |
| Housing | 113 | 111 | 100 | |
| Transportation | 100 | 114 | 100 | |
| Utilities | 81 | 97 | 100 | |
Elko, NV Housing Cost Breakdown
Housing swings affordability the most between places in Nevada, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Elko is $234,500.
The Median Rent in Elko is $1,094.
The Median Income in Elko is $80,148.
The Home Value To Income in Elko is 2.9x.
The Rent To Monthly Income in Elko is 0.16x.
| Statistic | Elko | Nevada | United States |
|---|---|---|---|
| Median Home Value | $234,500 | $315,900 | $244,900 |
| Median Rent | $1,094 | $1,238 | $1,163 |
| Median Income | $80,148 | $65,686 | $69,021 |
| Home Value To Income | 2.9x | 4.8x | 3.5x |
| Rent To Monthly Income | 0.16x | 0.23x | 0.2x |
Median Home Value
Median Rent
Median Income
Elko, NV Costs By Category
Detailed Elko Services Costs Vs. Nevada
Detailed Elko Groceries Costs Vs. Nevada
Detailed Elko Health Costs Vs. Nevada
Detailed Elko Transportation Costs Vs. Nevada
Detailed Elko Utilities Costs Vs. Nevada
Elko SnackAbility
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Cost Of Living In Cities Around Elko
The cost of living varies in the cities and towns around Elko. Here's a quick look at the cost of living in the most populous nearby places:
Spring Creek, NV has a cost of living index of 101, 1.0x Elko.
| City | Population | Cost Of Living | Vs. Elko |
|---|---|---|---|
| Spring Creek, NV | 15,176 | 101 | 1.0x |
