Nebraska Housing Market: Home Prices, Rent and Affordability
The typical Nebraska home is worth $280,673, up 3.1% over the past year and up 25.6% over five years, 23.9% below the national $368,697 (Zillow, latest release). That ranks #37 of 50 on price. A 20%-down mortgage runs $1,444 a month and takes about $83,194 of income; the median Nebraska household earns $73,423, $9,771 short.
In Omaha, the state's largest metro, typical rent is $1,413 a month against a $1,586 principal-and-interest payment on the typical home, so renting is $173 a month cheaper before taxes, insurance and maintenance. The market is cool: 26.5% of listings cut their price (national 26.4%), homes go pending in 39 days (national 53), and for-sale inventory is up 2.4% from a year ago.
All figures are Zillow Research's published numbers for August; median household income is from the Census Bureau. How the data works → · Home prices in all 50 states →
Nebraska Housing by the Numbers
How much does a house cost in Nebraska? The typical home is worth $280,673, the median sale price is $293,333 and the median list price $297,967. The six figures below describe the market this month, each with the national comparison.
How Have Nebraska Home Prices Changed?
The typical Nebraska home value every month since 2000, with the national typical home as a dashed line. Values rose 3.1% over the past year, are up 25.6% over five years, up 82.9% over ten, and up 139% since January 2000.
Is It Cheaper to Rent or Buy in Nebraska?
Two direct answers from the Zillow data. Rent versus buy sets typical asking rent in Omaha, the state's largest metro, against the mortgage payment on the typical home there, since Zillow publishes rents by metro rather than by state. The affordability gap is the income needed to buy the typical Nebraska home minus what the median household actually earns.
Rent vs. buy · Omaha, NE
The payment excludes property tax (1.54% of value in Nebraska), insurance and maintenance, all of which push the cost of owning higher; renting builds no equity. If values kept rising at the past five years' pace (25.6%), equity would narrow that gap over a long stay.
Affordability gap · #14 of 50
A $1,444 monthly payment takes 23.6% of the median Nebraska household's income before property tax and insurance; lenders generally cap total housing costs near 28–31%. Full budget for your household →
Is Nebraska a Buyer's or a Seller's Market?
Market temperature is our label from three Zillow signals compared with the national market: the share of listings with a price cut, days from listing to pending (days on market), and whether homes for sale are up from a year ago. Nebraska is cool: it leans toward buyers: two of the three market signals point cooler than the national market.
Median sale price $293,333 against a median list price of $297,967, so the typical home closes 1.6% below asking.
Where the Nebraska market is heading
Compared with a year ago, two of the three signals point looser, in buyers' favor: the share of listings with a price cut is down 0.6 points from a year ago to 26.5%, homes take 2 days longer to go pending than a year ago (39 now), and the number of homes for sale is up 2.4%. The typical home value rose 3.1% over the same period and is at an all-time high. We publish no forecasts: these are Zillow's current-month readings, not a prediction of where Nebraska home prices go next.
Home Values and Rents in Nebraska Cities
Zillow publishes a city-level home value or rent for 19 of the Nebraska cities we track. The most expensive is Gretna ($428,058) and the cheapest Scottsbluff ($185,568). Click a city for its full profile.
| City | Population | Home value | 1 yr | 5 yr | Rent | Rent 1 yr | Value ÷ income |
|---|---|---|---|---|---|---|---|
| Omaha | 483,362 | $296,615 | +1.9% | ||||
| Lincoln | 294,750 | $293,764 | +3.0% | ||||
| Bellevue | 64,355 | $300,450 | +3.0% | ||||
| Grand Island | 52,761 | $253,838 | -0.2% | ||||
| Kearney | 34,024 | $318,222 | +6.2% | ||||
| Fremont | 27,321 | $257,950 | +4.2% | ||||
| Norfolk | 25,962 | $259,095 | +4.0% | ||||
| Hastings | 25,005 | $206,294 | +2.1% | ||||
| Columbus | 24,188 | $271,400 | +2.2% | ||||
| Papillion | 24,063 | $411,607 | +2.3% | ||||
| North Platte | 23,030 | $219,736 | +7.2% | ||||
| La Vista | 16,594 | $310,256 | +3.2% | ||||
| Scottsbluff | 14,406 | $185,568 | +3.8% | ||||
| South Sioux City | 13,871 | $234,813 | +5.0% | ||||
| Beatrice | 12,233 | $186,905 | +1.9% | ||||
| Lexington | 10,693 | $202,545 | -1.6% | ||||
| Gretna | 9,117 | $428,058 | +1.7% | ||||
| Gering | 8,567 | $214,930 | +2.8% | ||||
| York | 8,114 | $220,505 | +0.8% |
Home value and rent are Zillow's city-level indexes; population and median household income are Census ACS. Cities without a Zillow index are omitted. All Nebraska cities ranked →
How Nebraska Compares With Nearby States
The Midwest states closest to Nebraska on price. Each card links to that state's housing page; the compare link puts the two states side by side on every category.
More on Nebraska
Nebraska dashboard
→Overall rank and grade, every category score, taxes, utilities, safety, schools and all tracked cities.
What you'd keep in Nebraska
→Take-home after housing, taxes, childcare, utilities and groceries for your household and income.
Who is moving to Nebraska
→IRS migration data: where new residents come from, where leavers go, and what both groups earn.
Nebraska Housing Market FAQ
What is the average house price in Nebraska?
$280,673 is the typical Nebraska home value according to the latest Zillow Research release of the Zillow Home Value Index, which tracks homes in the middle third of the market. The median sale price was $293,333 and the median list price $297,967. That makes Nebraska the #37 most expensive state; the national typical home is worth $368,697.
Are home prices dropping in Nebraska?
No. The typical Nebraska home value rose 3.1% over the past year and is at an all-time high. Over five years it is up 25.6% and over ten years up 82.9%. Nationally, values rose 1.2% over the year.
How have Nebraska home prices changed over the past 1, 5 and 10 years?
+3.1% over one year, +25.6% over five years and +82.9% over ten years for the typical Nebraska home value, per the latest Zillow Research release; the national figures are +1.2%, +20.3% and +77.9%. Since January 2000 the typical Nebraska home is up 139%. The monthly chart above shows the full series against the national line.
Will the Nebraska housing market crash?
We publish no forecasts, so this page cannot answer that; it can show the current readings and the historical worst case. Right now the typical Nebraska home value is at an all-time high after it rose 3.1% over the past year; 26.5% of listings have cut their price (national 26.4%), homes go pending in 39 days (national 53), and inventory is up 2.4% from a year ago, per Zillow Research. The largest decline in Zillow's monthly series for Nebraska was 8.6% from February 2001 to July 2001, and values took 28 months to regain that peak.
Is it a good time to buy a house in Nebraska?
The Nebraska market is cool right now, which means it leans toward buyers: two of the three market signals point cooler than the national market. 26.5% of listings cut their price (national 26.4%), homes go pending in 39 days (national 53), and for-sale inventory is up 2.4% from a year ago. Affordability is the constraint: buying the typical home takes $83,194 of income, $9,771 more than the median household earns. Whether the timing is right also depends on mortgage rates and how long you plan to stay.
Is Nebraska a buyer's or seller's market?
Nebraska leans toward buyers. More listings are cutting prices than the national average (26.5% vs. 26.4%), homes take 39 days to go pending (national 53), and the number of homes for sale is up 2.4% from a year ago at 7K listings. Two of those three signals point toward buyers.
What is the average rent in Nebraska?
In Omaha, Nebraska's largest metro, the typical asking rent is $1,413 a month, up 1.9% over the past year and up 26.6% over five years, per the Zillow Observed Rent Index. The national typical rent is $1,948. Among Nebraska cities we track, rents range from $1,063 to $1,704 a month.
Is it cheaper to rent or buy in Nebraska?
Renting is cheaper month to month in Omaha, Nebraska's largest metro. Typical rent is $1,413 and the principal-and-interest payment on the typical home with 20% down is $1,586, a difference of $173 a month in favor of renting. The payment excludes property tax (1.54% of value in Nebraska), insurance and maintenance, and renting builds no equity, so the full answer depends on how long you stay.
How much income do you need to buy a house in Nebraska?
About $83,194 a year, using Zillow's assumptions of 20% down at current mortgage rates and a payment of no more than 30% of income. The median Nebraska household earns $73,423, so the typical household is $9,771 short. That is the #14 smallest affordability gap of the 50 states. The monthly payment of $1,444 equals 23.6% of the median household's income.
Where are homes cheapest and most expensive in Nebraska?
Among the Nebraska cities we track with Zillow data, the most expensive typical home is in Gretna ($428,058) and the cheapest in Scottsbluff ($185,568). Also at the top: Papillion ($411,607), Kearney ($318,222), and La Vista ($310,256). The city table above lists every tracked Nebraska city with its value, one-year change and rent.
How does Nebraska compare with nearby states?
In the Midwest, the closest comparisons on price are North Dakota ($292,293, up 5.2% in a year), Missouri ($267,879, up 3.5% in a year), and Michigan ($266,292, up 4.0% in a year). Nebraska's typical home is $280,673, up 3.1%. On affordability, Nebraska ranks #14 of 50 versus North Dakota at #11, Missouri at #15, and Michigan at #9.
How current is the Nebraska housing data?
Every figure on this page comes from Zillow Research, which publishes state, metro and city data free each month for the prior month; the latest month shown is August. Median household income is from the Census Bureau's American Community Survey. We rebuild the page from the newest Zillow files as they are released.
Home values, rents, mortgage payments, income needed, inventory, price cuts, days to pending and sale and list prices are published by Zillow Research and shown as released, with attribution. Median household income and city populations are from the Census Bureau's American Community Survey. Home prices and housing markets in all 50 states →