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 | Greeley County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $57,499 | $167,658 | $242,182 |
| Price Trend (Annual %) | 53.8% | 8.2% | 8.2% |
| Median Gross Rent | $642 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 3.8% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Greeley County is about 66% lower than in Nebraska. Rent is about 38% 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 Greeley County, up about 53.8% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Greeley County rose about 28.4% between 2015 and 2023, from $500 to $642. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Greeley County.
Buying the median-priced home in Greeley County costs roughly 7.5 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 Greeley County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Greeley County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $57,499 | $167,658 | $242,182 |
| Median Household Income | $58,486 | $74,987 | $78,145 |
| Price-to-Income Ratio | 1.0 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Greeley County fell about 14.4%, while median household income rose about 52.3% 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 | Greeley County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.4% | 61.2% | 58.2% |
| Rental Rate | 13.9% | 30.8% | 31.3% |
| Vacancy Rate | 21.7% | 8.0% | 10.6% |
| Median Tenure (years) | 21.0 | 14.0 | 15.0 |
| Median Year Moved In | 2005 | 2012 | 2011 |
Greeley County has a homeownership rate of 64.4%, higher than the Nebraska average of 61.2%. Its housing vacancy rate is 21.7%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Greeley County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1948 | 1973 | 1978 |
| Median Number of Rooms | 6.4 | 6.1 | 5.5 |
The typical housing unit in Greeley County was built around 1948. On average, 2.3 people live in a home with about 6.4 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Greeley County, Nebraska.
What is the median home price in Greeley County, Nebraska?
The median home price in Greeley County, Nebraska is $57,499, lower than the Nebraska average of $167,658.
What is the average home price in Greeley 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 Greeley County, Nebraska?
The median gross rent in Greeley County, Nebraska is $642 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Greeley County in 2020?
In 2020, the median gross rent in Greeley County, Nebraska was $586 per month.
What is the price-to-rent ratio in Greeley County, Nebraska?
The price-to-rent ratio in Greeley County, Nebraska is about 7.5, meaning it would take roughly 7.5 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 Greeley County.
Are home prices or rent rising faster in Greeley County, Nebraska?
Both home prices and rent are rising in Greeley County, up about 53.8% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Greeley County, Nebraska?
64.4% of households in Greeley County, Nebraska own their home, higher than the Nebraska average of 61.2%.
What is the vacancy rate in Greeley County, Nebraska?
The housing vacancy rate in Greeley County, Nebraska is 21.7%, higher than the Nebraska average of 8.0%.