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 | Loup County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $19,166 | $167,658 | $242,182 |
| Price Trend (Annual %) | — | 8.2% | 8.2% |
| Median Gross Rent | $650 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 6.7% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Loup County is about 89% lower than in Nebraska. Rent is about 37% lower than the Nebraska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2016
Median Rent Prices, 2015-2023
Median rent in Loup County rose about 32.4% between 2015 and 2023, from $491 to $650. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 0.3 yearly household incomes in Loup County.
Buying the median-priced home in Loup County costs roughly 2.5 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 Loup County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Loup County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $19,166 | $167,658 | $242,182 |
| Median Household Income | $60,417 | $74,987 | $78,145 |
| Price-to-Income Ratio | 0.3 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2016, the median home price in Loup County rose about 0.0%, while median household income rose about 86.5% 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 | Loup County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 38.5% | 61.2% | 58.2% |
| Rental Rate | 19.6% | 30.8% | 31.3% |
| Vacancy Rate | 42.0% | 8.0% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Loup County has a homeownership rate of 38.5%, lower than the Nebraska average of 61.2%. Its housing vacancy rate is 42.0%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Loup County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.27 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1974 | 1973 | 1978 |
| Median Number of Rooms | 5.8 | 6.1 | 5.5 |
The typical housing unit in Loup County was built around 1974. On average, 2.3 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Loup County, Nebraska.
What is the median home price in Loup County, Nebraska?
The median home price in Loup County, Nebraska is $19,166, lower than the Nebraska average of $167,658.
What is the average home price in Loup 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 Loup County, Nebraska?
The median gross rent in Loup County, Nebraska is $650 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Loup County in 2020?
In 2020, the median gross rent in Loup County, Nebraska was $712 per month.
What is the price-to-rent ratio in Loup County, Nebraska?
The price-to-rent ratio in Loup County, Nebraska is about 2.5, meaning it would take roughly 2.5 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 Loup County.
What is the homeownership rate in Loup County, Nebraska?
38.5% of households in Loup County, Nebraska own their home, lower than the Nebraska average of 61.2%.
What is the vacancy rate in Loup County, Nebraska?
The housing vacancy rate in Loup County, Nebraska is 42.0%, higher than the Nebraska average of 8.0%.