Total monthly cost of ownership
Cost to Own a Home in Kearney, Nebraska
A $236,000 home here costs
$2,041per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,213. The real number is $828 higher every month — 68% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Kearney against Buffalo County and Nebraska
| Measure | Kearney | Buffalo County |
|---|---|---|
| Median home value | $235,800 | $236,800 |
| Median property tax | $3,504 | $3,435 |
| Effective tax rate | 1.486% | 1.451% |
| Median gross rent | $922 | $911 |
| Population | 34,024 | 50,323 |
The weather behind that power bill
Kearney 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 $122 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
Common questions
How much does it cost to own a home in Kearney?
A $236,000 home in Kearney, Nebraska costs approximately $2,041 per month with 20% down at 6.66%. That is $1,213 principal and interest, $292 property tax, $148 homeowners insurance, $190 utilities and $197 set aside for maintenance.
What is the property tax rate in Kearney?
Kearney has an effective property tax rate of 1.486%, based on a median home value of $235,800 and median real estate taxes of $3,504. That is higher than the Buffalo County average of 1.451%.
What is the average home price in Kearney?
The median owner-occupied home value in Kearney, Nebraska is $235,800, against $236,800 across Buffalo County.
Is it cheaper to rent or buy in Kearney?
Median gross rent in Kearney is $922 a month, against $2,041 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Kearney — 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.