Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Burt County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $19,564 | $167,658 | $242,182 |
| Price Trend (Annual %) | 46.2% | 8.2% | 8.2% |
| Median Gross Rent | $688 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 2.5% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Burt County is about 88% lower than in Nebraska. Rent is about 34% lower than the Nebraska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Burt County, up about 46.2% and 2.5% a year respectively. Home prices are changing faster.
Median rent in Burt County rose about 15.9% between 2015 and 2023, from $593 to $688. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 0.3 yearly household incomes in Burt County.
Buying the median-priced home in Burt County costs roughly 2.4 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Burt County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Burt County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $19,564 | $167,658 | $242,182 |
| Median Household Income | $58,862 | $74,987 | $78,145 |
| Price-to-Income Ratio | 0.3 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Burt County fell about 63.8%, while median household income rose about 35.5% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Burt County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.3% | 61.2% | 58.2% |
| Rental Rate | 19.6% | 30.8% | 31.3% |
| Vacancy Rate | 14.1% | 8.0% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Burt County has a homeownership rate of 66.3%, higher than the Nebraska average of 61.2%. Its housing vacancy rate is 14.1%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Burt County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.31 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1958 | 1973 | 1978 |
| Median Number of Rooms | 6.3 | 6.1 | 5.5 |
The typical housing unit in Burt County was built around 1958. On average, 2.3 people live in a home with about 6.3 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Burt County, Nebraska.
What is the median home price in Burt County, Nebraska?
The median home price in Burt County, Nebraska is $19,564, lower than the Nebraska average of $167,658.
What is the average home price in Burt County, Nebraska?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Burt County, Nebraska?
The median gross rent in Burt County, Nebraska is $688 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Burt County in 2020?
In 2020, the median gross rent in Burt County, Nebraska was $630 per month.
What is the price-to-rent ratio in Burt County, Nebraska?
The price-to-rent ratio in Burt County, Nebraska is about 2.4, meaning it would take roughly 2.4 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Burt County.
Are home prices or rent rising faster in Burt County, Nebraska?
Both home prices and rent are rising in Burt County, up about 46.2% and 2.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Burt County, Nebraska?
66.3% of households in Burt County, Nebraska own their home, higher than the Nebraska average of 61.2%.
What is the vacancy rate in Burt County, Nebraska?
The housing vacancy rate in Burt County, Nebraska is 14.1%, higher than the Nebraska average of 8.0%.