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 | Hall County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,416 | $167,658 | $242,182 |
| Price Trend (Annual %) | 7.0% | 8.2% | 8.2% |
| Median Gross Rent | $911 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hall County is about 14% higher than in Nebraska. Rent is about 12% 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 Hall County, up about 7.0% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Hall County rose about 37.9% between 2015 and 2023, from $661 to $911. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Hall County.
Buying the median-priced home in Hall County costs roughly 17.4 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 Hall County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Hall County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $190,416 | $167,658 | $242,182 |
| Median Household Income | $66,880 | $74,987 | $78,145 |
| Price-to-Income Ratio | 2.8 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hall County rose about 60.5%, while median household income rose about 44.9% 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 | Hall County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.8% | 61.2% | 58.2% |
| Rental Rate | 35.4% | 30.8% | 31.3% |
| Vacancy Rate | 3.8% | 8.0% | 10.6% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Hall County has a homeownership rate of 60.8%, about the same as the Nebraska average of 61.2%. Its housing vacancy rate is 3.8%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Hall County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.52 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1976 | 1973 | 1978 |
| Median Number of Rooms | 5.8 | 6.1 | 5.5 |
The typical housing unit in Hall County was built around 1976. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hall County, Nebraska.
What is the median home price in Hall County, Nebraska?
The median home price in Hall County, Nebraska is $190,416, higher than the Nebraska average of $167,658.
What is the average home price in Hall 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 Hall County, Nebraska?
The median gross rent in Hall County, Nebraska is $911 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Hall County in 2020?
In 2020, the median gross rent in Hall County, Nebraska was $776 per month.
What is the price-to-rent ratio in Hall County, Nebraska?
The price-to-rent ratio in Hall County, Nebraska is about 17.4, meaning it would take roughly 17.4 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 Hall County.
Are home prices or rent rising faster in Hall County, Nebraska?
Both home prices and rent are rising in Hall County, up about 7.0% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hall County, Nebraska?
60.8% of households in Hall County, Nebraska own their home, lower than the Nebraska average of 61.2%.
What is the vacancy rate in Hall County, Nebraska?
The housing vacancy rate in Hall County, Nebraska is 3.8%, lower than the Nebraska average of 8.0%.