Home Affordability in Omaha, NE
The median home price in Omaha is $255,000 with a median household income of $60,259. Housing is moderately affordable relative to local incomes.
Median Home Price
$255,000
Median Income
$60,259
Price-to-Income Ratio
4.2x
Est. Affordable Home
$234,000
Property Tax Rate
1.68%
Annual Property Tax
$4,284
Sales Tax Rate
7.00%
Cost of Living Index
91
Buying a Home in Omaha
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $60,259 in Omaha can afford a monthly housing payment of approximately $1,406. This translates to a home price of roughly $234,000, which is below the median home price of $255,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Omaha would be approximately $4,284 per year ($357/month) at the effective rate of 1.68%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $7,650 | $247,350 | Yes |
| 5% | $12,750 | $242,250 | Yes |
| 10% | $25,500 | $229,500 | Yes |
| 20% | $51,000 | $204,000 | No |
Use Our Home Affordability Calculator
Get a personalized estimate based on your income, debts, down payment, and credit score.
Calculate Now