Is $40K a Good Salary in Lincoln, NE?
Full budget breakdown for Lincoln on $40K/year — take-home after taxes, rent burden, what you can afford, and how it compares to the city median.
Monthly budget in Lincoln on $40K
US average equivalent
$47,000
Your $40K in Lincoln (COL: 86) buys the same as $47,000/yr in a city with average US cost of living.
vs Lincoln median
-30%
The median household income in Lincoln is $57,000/yr. You're earning 30% below that.
Cities where $40K goes further
These cities have a lower rent burden at $40K than Lincoln.
Other salary levels in Lincoln
Frequently asked questions
Is $40K a good salary in Lincoln?
$40K/year in Lincoln gives you approximately $2,535/month in take-home pay after federal and state taxes. With a median 1BR rent of $1,150/month, your rent burden is 45% of take-home — which is considered difficult. Lincoln is one of the more affordable cities for this salary, ranking #43 out of 179 cities.
How much is $40K after taxes in Lincoln?
On $40K/year in Lincoln (NE), you take home approximately $2,535/month after federal income tax, 5.8% NE state income tax, and FICA. That is roughly $30,420/year net.
What is the cost of living in Lincoln on $40K?
Monthly estimated costs in Lincoln: rent $1,150, groceries ~$357, transportation ~$48, utilities ~$152, internet ~$58. Total estimated expenses: ~$1,765/month, leaving ~$770/month after essentials on a $40K salary.
Tax estimates use 2026 brackets · Rent data: Zillow Observed Rent Index · Budget figures are estimates for general guidance only