In Farnam, Nebraska, the poverty rate is lower than the national average. While the poverty rate is 14.1%, only 11.6% of the total population lives below the national poverty level. The state of Nebraska also has updated coronavirus data, crime statistics, and cost of living information. To learn more about the area around Farnam, Nebraska, view our poverty report. This data includes a breakdown by race and ethnicity.
The median age of residents in Farnam, NE is 46.9, which is slightly older than the national average. This city's median property value is $61,300. The median homeownership rate is 85.6%, which is above the national average. The median commute time for residents of Farnam, NE is 31.4 minutes. There are two cars per household, on average. There are 216 residents in Farnam.
The town began life as a Saxon settlement. In the 7th century, it belonged to the Bishop of Winchester. In the 8th century, the area was known as Fern Hamm. In the tenth century, it was home to an important wool cloth industry. Wool cloth was spun, pounded, and fulled in water. The town also had a watermill, which was operated by locals.
The median income of residents of Farnam, NE is $31,217. The poverty rate in Farnam, NE is 9.76%. The highest paying industries in Farnam, NE include Health Care & Social Assistance (28 people), Retail Trade (14 people), and Agriculture, Forestry & Fishing & Hunting (14.4%). You can find more information about Farnam, NE's economy on the Census Bureau's Population & Steets page.