Quick facts: Farwell, NE

Quick Facts

94.7
Cost of Living
below US average
136
Population
36.76
Crime Rate per 1000
above US average
$48,125
Median Income
below US average
$1,850,000
Median House Price
above US average
$1313
Average Rent
below US average
7%
Poverty Rate
below US average
2.5%
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 $48,125.

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Income Needed to Buy

βœ— Stretch
$580k/year
Based on $1,850,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $580k vs median $48,125
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Income Needed to Rent

⚠ Stretch
$56k/year
Based on $1313/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $56k vs median $48,125
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Farwell, NE

Farwell, Nebraska, is a small village located in the central part of the state, within Howard County. With a modest population, Farwell offers a quaint, rural atmosphere characterized by its tight-knit community and agricultural surroundings. The village is primarily residential, with various families contributing to the local culture and economy. Despite its small size, Farwell is surrounded by the natural beauty typical of Nebraska, including open fields and rolling landscapes, making it an attractive place for those who appreciate quiet, country living. The area is primarily agricultural, and farming plays a significant role in the local economy. Residents can enjoy outdoor activities such as hiking, fishing, and hunting, thanks to the proximity to various natural reserves and parks in the region. Historical landmarks and small-town charm make Farwell a unique destination for anyone looking to experience the less commercialized side of Nebraska life. The community is focused on family values and offers a sense of belonging that is often hard to find in larger urban centers.

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