Omaha, Nebraska Housing Market Prices
Omaha Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 63% above the Nebraska median$286,105
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Median rent 11% above the Nebraska median$1,186
Housing Market Overview
| Metric | Omaha | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $286,105 | $175,282 | $248,835 |
| Price Trend (Annual %) | 14.0% | 7.7% | 7.5% |
| Median Gross Rent | $1,186 | $1,071 | $1,407 |
| Rent Trend (Annual %) | 4.7% | 4.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Omaha is about 63% higher than in Nebraska. Rent is about 11% higher than the Nebraska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Omaha, up about 14.0% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Omaha rose about 47.7% between 2015 and 2024, from $803 to $1,186. Over the same span, rent in Nebraska rose about 47.6%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Omaha.
Buying the median-priced home in Omaha costs roughly 20.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Omaha. The price-to-rent ratio in Nebraska is about 13.6.
| Metric | Omaha | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $286,105 | $175,282 | $248,835 |
| Median Household Income | $73,727 | $76,615 | $80,455 |
| Price-to-Income Ratio | 3.9 | 2.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Omaha rose about 219.4%, while median household income rose about 47.9% between 2009 and 2025 — 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 | Omaha | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.5% | 61.5% | 58.5% |
| Rental Rate | 40.1% | 30.9% | 31.2% |
| Vacancy Rate | 5.4% | 7.6% | 10.2% |
| Median Tenure (years) | 12.0 | 14.0 | 15.0 |
| Median Year Moved In | 2014 | 2012 | 2011 |
Omaha has a homeownership rate of 54.5%, lower than the Nebraska average of 61.5%. Its housing vacancy rate is 5.4%, compared with 7.6% in Nebraska.
Housing Stock
| Metric | Omaha | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1971 | 1974 | 1978 |
| Median Number of Rooms | 5.7 | 6.1 | 5.5 |
The typical housing unit in Omaha was built around 1971. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Omaha, Nebraska.
What is the median home price in Omaha, Nebraska?
The median home price in Omaha, Nebraska is $286,105, higher than the Nebraska average of $175,282.
What is the average home price in Omaha, Nebraska?
The typical home price in Omaha, Nebraska, reported as the median sale price, is $286,105. 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 Omaha, Nebraska?
The median gross rent in Omaha, Nebraska is $1,186 per month, higher than the Nebraska average of $1,071.
What was the median gross rent in Omaha in 2020?
In 2020, the median gross rent in Omaha, Nebraska was $951 per month.
What is the price-to-rent ratio in Omaha, Nebraska?
The price-to-rent ratio in Omaha, Nebraska is about 20.1, meaning it would take roughly 20.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Omaha.
Are home prices or rent rising faster in Omaha, Nebraska?
Both home prices and rent are rising in Omaha, up about 14.0% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Omaha, Nebraska?
54.5% of households in Omaha, Nebraska own their home, lower than the Nebraska average of 61.5%.
What is the vacancy rate in Omaha, Nebraska?
The housing vacancy rate in Omaha, Nebraska is 5.4%, lower than the Nebraska average of 7.6%.
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