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 | Cedar County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $141,666 | $167,658 | $242,182 |
| Price Trend (Annual %) | 13.5% | 8.2% | 8.2% |
| Median Gross Rent | $682 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 1.8% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cedar County is about 16% 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 Cedar County, up about 13.5% and 1.8% a year respectively. Home prices are changing faster.
Median rent in Cedar County rose about 22.1% between 2015 and 2023, from $558 to $682. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Cedar County.
Buying the median-priced home in Cedar County costs roughly 17.3 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Cedar County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Cedar County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $141,666 | $167,658 | $242,182 |
| Median Household Income | $74,077 | $74,987 | $78,145 |
| Price-to-Income Ratio | 1.9 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Cedar County rose about 123.9%, while median household income rose about 73.5% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Cedar County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.0% | 61.2% | 58.2% |
| Rental Rate | 18.6% | 30.8% | 31.3% |
| Vacancy Rate | 12.4% | 8.0% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Cedar County has a homeownership rate of 69.0%, higher than the Nebraska average of 61.2%. Its housing vacancy rate is 12.4%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Cedar County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1967 | 1973 | 1978 |
| Median Number of Rooms | 6.6 | 6.1 | 5.5 |
The typical housing unit in Cedar County was built around 1967. On average, 2.4 people live in a home with about 6.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Cedar County, Nebraska.
What is the median home price in Cedar County, Nebraska?
The median home price in Cedar County, Nebraska is $141,666, lower than the Nebraska average of $167,658.
What is the average home price in Cedar 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 Cedar County, Nebraska?
The median gross rent in Cedar County, Nebraska is $682 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Cedar County in 2020?
In 2020, the median gross rent in Cedar County, Nebraska was $673 per month.
What is the price-to-rent ratio in Cedar County, Nebraska?
The price-to-rent ratio in Cedar County, Nebraska is about 17.3, meaning it would take roughly 17.3 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Cedar County.
Are home prices or rent rising faster in Cedar County, Nebraska?
Both home prices and rent are rising in Cedar County, up about 13.5% and 1.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cedar County, Nebraska?
69.0% of households in Cedar County, Nebraska own their home, higher than the Nebraska average of 61.2%.
What is the vacancy rate in Cedar County, Nebraska?
The housing vacancy rate in Cedar County, Nebraska is 12.4%, higher than the Nebraska average of 8.0%.