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 | Keya Paha County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $118,055 | $167,658 | $242,182 |
| Price Trend (Annual %) | 4.9% | 8.2% | 8.2% |
| Median Gross Rent | $866 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 7.1% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Keya Paha County is about 30% lower than in Nebraska. Rent is about 16% lower than the Nebraska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2017
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Keya Paha County, up about 4.9% and 7.1% a year respectively. Rent is changing faster.
Median rent in Keya Paha County rose about 42.3% between 2015 and 2023, from $609 to $866. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Keya Paha County.
Buying the median-priced home in Keya Paha County costs roughly 11.4 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 Keya Paha County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Keya Paha County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $118,055 | $167,658 | $242,182 |
| Median Household Income | $60,214 | $74,987 | $78,145 |
| Price-to-Income Ratio | 2.0 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2017, the median home price in Keya Paha County rose about 3.7%, while median household income rose about 76.1% 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 | Keya Paha County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.9% | 61.2% | 58.2% |
| Rental Rate | 13.1% | 30.8% | 31.3% |
| Vacancy Rate | 33.9% | 8.0% | 10.6% |
| Median Tenure (years) | 20.0 | 14.0 | 15.0 |
| Median Year Moved In | 2006 | 2012 | 2011 |
Keya Paha County has a homeownership rate of 52.9%, lower than the Nebraska average of 61.2%. Its housing vacancy rate is 33.9%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Keya Paha County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.87 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1963 | 1973 | 1978 |
| Median Number of Rooms | 6.0 | 6.1 | 5.5 |
The typical housing unit in Keya Paha County was built around 1963. On average, 2.9 people live in a home with about 6.0 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Keya Paha County, Nebraska.
What is the median home price in Keya Paha County, Nebraska?
The median home price in Keya Paha County, Nebraska is $118,055, lower than the Nebraska average of $167,658.
What is the average home price in Keya Paha 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 Keya Paha County, Nebraska?
The median gross rent in Keya Paha County, Nebraska is $866 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Keya Paha County in 2020?
In 2020, the median gross rent in Keya Paha County, Nebraska was $785 per month.
What is the price-to-rent ratio in Keya Paha County, Nebraska?
The price-to-rent ratio in Keya Paha County, Nebraska is about 11.4, meaning it would take roughly 11.4 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 Keya Paha County.
Are home prices or rent rising faster in Keya Paha County, Nebraska?
Both home prices and rent are rising in Keya Paha County, up about 4.9% and 7.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Keya Paha County, Nebraska?
52.9% of households in Keya Paha County, Nebraska own their home, lower than the Nebraska average of 61.2%.
What is the vacancy rate in Keya Paha County, Nebraska?
The housing vacancy rate in Keya Paha County, Nebraska is 33.9%, higher than the Nebraska average of 8.0%.