Total monthly cost of ownership
Cost to Own a Home in Elm Creek, Nebraska
A $197,000 home here costs
$1,765per 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 $75,500 a year.
A standard mortgage calculator would have told you $1,074. The real number is $691 higher every month, 64% more than the payment most buyers budget for.
Compare Buffalo County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Elm Creek from a five-year rolling sample, and with about 1,146 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 Buffalo 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.
Elm Creek against Buffalo County and Nebraska
| Measure | Elm Creek | Buffalo County |
|---|---|---|
| Median home value | $197,100 | $236,800 |
| Median property tax | $2,471 | $3,435 |
| Effective tax rate | 1.254% | 1.451% |
| Median gross rent | $767 | $911 |
| Population | 1,146 | 50,323 |
The weather behind that power bill
Elm Creek sits in Buffalo County, which averages a high of 86.6°F in its hottest month and a low of 13.8°F in its coldest, with 25.56" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 904 cooling and 6,387 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Buffalo County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Buffalo County
Full Buffalo County cost breakdown · Every county in Nebraska
Talk to someone who works this market
These are Elm Creek 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 Elm Creek every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Elm Creek I already own here and may sell
Common questions
How much does it cost to own a home in Elm Creek?
A $197,000 home in Elm Creek, Nebraska costs approximately $1,765 per month with 20% down at 7.24%. That is $1,074 principal and interest, $206 property tax, $124 homeowners insurance, $197 utilities and $164 set aside for maintenance.
What is the property tax rate in Elm Creek?
Elm Creek has an effective property tax rate of 1.254%, based on a median home value of $197,100 and median real estate taxes of $2,471. That is lower than the Buffalo County average of 1.451%.
What is the average home price in Elm Creek?
The median owner-occupied home value in Elm Creek, Nebraska is $197,100, against $236,800 across Buffalo County.
Is it cheaper to rent or buy in Elm Creek?
Median gross rent in Elm Creek is $767 a month, against $1,765 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 Elm Creek?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Elm Creek, Nebraska at today's rate takes a household income of roughly $75,500 a year. That covers the full $1,765 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Elm Creek, 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.