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 | Kimball County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $94,999 | $167,658 | $242,182 |
| Price Trend (Annual %) | 5.1% | 8.2% | 8.2% |
| Median Gross Rent | $853 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 3.3% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kimball County is about 43% lower than in Nebraska. Rent is about 18% 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 Kimball County, up about 5.1% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Kimball County rose about 35.0% between 2015 and 2023, from $632 to $853. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Kimball County.
Buying the median-priced home in Kimball County costs roughly 9.3 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 Kimball County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Kimball County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $94,999 | $167,658 | $242,182 |
| Median Household Income | $59,669 | $74,987 | $78,145 |
| Price-to-Income Ratio | 1.6 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Kimball County rose about 55.7%, while median household income rose about 48.0% 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 | Kimball County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.8% | 61.2% | 58.2% |
| Rental Rate | 23.7% | 30.8% | 31.3% |
| Vacancy Rate | 15.5% | 8.0% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Kimball County has a homeownership rate of 60.8%, about the same as the Nebraska average of 61.2%. Its housing vacancy rate is 15.5%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Kimball County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1953 | 1973 | 1978 |
| Median Number of Rooms | 6.5 | 6.1 | 5.5 |
The typical housing unit in Kimball County was built around 1953. On average, 2.1 people live in a home with about 6.5 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Kimball County, Nebraska.
What is the median home price in Kimball County, Nebraska?
The median home price in Kimball County, Nebraska is $94,999, lower than the Nebraska average of $167,658.
What is the average home price in Kimball 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 Kimball County, Nebraska?
The median gross rent in Kimball County, Nebraska is $853 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Kimball County in 2020?
In 2020, the median gross rent in Kimball County, Nebraska was $737 per month.
What is the price-to-rent ratio in Kimball County, Nebraska?
The price-to-rent ratio in Kimball County, Nebraska is about 9.3, meaning it would take roughly 9.3 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 Kimball County.
Are home prices or rent rising faster in Kimball County, Nebraska?
Both home prices and rent are rising in Kimball County, up about 5.1% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kimball County, Nebraska?
60.8% of households in Kimball County, Nebraska own their home, lower than the Nebraska average of 61.2%.
What is the vacancy rate in Kimball County, Nebraska?
The housing vacancy rate in Kimball County, Nebraska is 15.5%, higher than the Nebraska average of 8.0%.