Total monthly cost of ownership
Cost to Own a Home in Alma, Nebraska
A $158,000 home here costs
$1,465per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $63,000 a year.
A standard mortgage calculator would have told you $861. The real number is $603 higher every month, 70% more than the payment most buyers budget for.
Compare Harlan County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Alma from a five-year rolling sample, and with about 1,176 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Harlan County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Alma against Harlan County and Nebraska
| Measure | Alma | Harlan County |
|---|---|---|
| Median home value | $158,200 | $147,200 |
| Median property tax | $2,099 | $1,690 |
| Effective tax rate | 1.327% | 1.148% |
| Median gross rent | $875 | $708 |
| Population | 1,176 | 3,006 |
The weather behind that power bill
Alma sits in Harlan County, which averages a high of 88.7°F in its hottest month and a low of 16.0°F in its coldest, with 25.36" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 1,081 cooling and 5,902 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Harlan County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Harlan County
No other places of this size are published in Harlan County.
Full Harlan County cost breakdown · Every county in Nebraska
Talk to someone who works this market
These are Alma averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Alma every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Alma?
A $158,000 home in Alma, Nebraska costs approximately $1,465 per month with 20% down at 7.24%. That is $861 principal and interest, $175 property tax, $99 homeowners insurance, $197 utilities and $132 set aside for maintenance.
What is the property tax rate in Alma?
Alma has an effective property tax rate of 1.327%, based on a median home value of $158,200 and median real estate taxes of $2,099. That is higher than the Harlan County average of 1.148%.
What is the average home price in Alma?
The median owner-occupied home value in Alma, Nebraska is $158,200, against $147,200 across Harlan County.
Is it cheaper to rent or buy in Alma?
Median gross rent in Alma is $875 a month, against $1,465 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Alma?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Alma, Nebraska at today's rate takes a household income of roughly $63,000 a year. That covers the full $1,465 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Alma, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Nebraska.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.