Quick facts: Burwell, NE

Quick Facts

94.7
Cost of Living
below US average
1,079
Population
4.63
Crime Rate per 1000
below US average
$65,313
Median Income
below US average
$325,000
Median House Price
above US average
$1313
Average Rent
below US average
10%
Poverty Rate
below US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $65,313.

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Income Needed to Buy

βœ— Stretch
$102k/year
Based on $325,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $102k vs median $65,313
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Income Needed to Rent

βœ“ Affordable
$56k/year
Based on $1313/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($65,313) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Burwell, NE

Burwell is a small city located in Garfield County, Nebraska, with a population of around 1,000 residents. It serves as the county seat and offers a tranquil, rural lifestyle surrounded by the natural beauty of the Nebraska Sandhills. Burwell is known for its friendly community atmosphere and opportunities for outdoor activities, including hunting, fishing, and hiking. The city hosts the annual Calamus Reservoir and the nearby Loup River, both inviting spots for water-based recreation. Burwell is also recognized for its rich Western heritage, evident in its local events such as the Burwell Rodeo, which attracts visitors each summer and showcases the region's cowboy culture. The local economy primarily revolves around agriculture, with a focus on cattle ranching and farming. Despite its small size, Burwell features essential amenities, including schools, shops, and dining options. Its proximity to larger cities like Grand Island and Kearney allows residents to enjoy a peaceful rural life while still having access to urban conveniences. Overall, Burwell is a charming small town that embodies the spirit of Nebraska's heartland.

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