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 | Garden County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $224,998 | $167,658 | $242,182 |
| Price Trend (Annual %) | 13.8% | 8.2% | 8.2% |
| Median Gross Rent | $675 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 2.4% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Garden County is about 34% higher than in Nebraska. Rent is about 35% 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 Garden County, up about 13.8% and 2.4% a year respectively. Home prices are changing faster.
Median rent in Garden County rose about 32.1% between 2015 and 2023, from $511 to $675. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 5.0 yearly household incomes in Garden County.
Buying the median-priced home in Garden County costs roughly 27.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Garden County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Garden County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $224,998 | $167,658 | $242,182 |
| Median Household Income | $44,797 | $74,987 | $78,145 |
| Price-to-Income Ratio | 5.0 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Garden County rose about 174.8%, while median household income rose about 33.7% 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 | Garden County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.7% | 61.2% | 58.2% |
| Rental Rate | 15.4% | 30.8% | 31.3% |
| Vacancy Rate | 28.9% | 8.0% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Garden County has a homeownership rate of 55.7%, lower than the Nebraska average of 61.2%. Its housing vacancy rate is 28.9%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Garden County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.92 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1952 | 1973 | 1978 |
| Median Number of Rooms | 6.0 | 6.1 | 5.5 |
The typical housing unit in Garden County was built around 1952. On average, 1.9 people live in a home with about 6.0 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Garden County, Nebraska.
What is the median home price in Garden County, Nebraska?
The median home price in Garden County, Nebraska is $224,998, higher than the Nebraska average of $167,658.
What is the average home price in Garden 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 Garden County, Nebraska?
The median gross rent in Garden County, Nebraska is $675 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Garden County in 2020?
In 2020, the median gross rent in Garden County, Nebraska was $703 per month.
What is the price-to-rent ratio in Garden County, Nebraska?
The price-to-rent ratio in Garden County, Nebraska is about 27.8, meaning it would take roughly 27.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Garden County.
Are home prices or rent rising faster in Garden County, Nebraska?
Both home prices and rent are rising in Garden County, up about 13.8% and 2.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Garden County, Nebraska?
55.7% of households in Garden County, Nebraska own their home, lower than the Nebraska average of 61.2%.
What is the vacancy rate in Garden County, Nebraska?
The housing vacancy rate in Garden County, Nebraska is 28.9%, higher than the Nebraska average of 8.0%.