Total monthly cost of ownership
Cost to Own a Home in McCook, Nebraska
A $137,000 home here costs
$1,289per 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 $55,500 a year.
A standard mortgage calculator would have told you $747. The real number is $542 higher every month, 73% more than the payment most buyers budget for.
Compare Red Willow County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
McCook against Red Willow County and Nebraska
| Measure | McCook | Red Willow County |
|---|---|---|
| Median home value | $137,400 | $143,500 |
| Median property tax | $1,740 | $1,811 |
| Effective tax rate | 1.266% | 1.262% |
| Median gross rent | $783 | $778 |
| Population | 7,360 | 10,611 |
The weather behind that power bill
McCook sits in Red Willow County, which averages a high of 91.2°F in its hottest month and a low of 16.1°F in its coldest, with 20.05" of precipitation a year and 48% of it in a single three-month stretch. That climate drives 1,155 cooling and 5,776 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Red Willow County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Red Willow County
No other places of this size are published in Red Willow County.
Full Red Willow County cost breakdown · Every county in Nebraska
Talk to someone who works this market
These are McCook 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 McCook every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in McCook I already own here and may sell
Common questions
How much does it cost to own a home in McCook?
A $137,000 home in McCook, Nebraska costs approximately $1,289 per month with 20% down at 7.24%. That is $747 principal and interest, $145 property tax, $86 homeowners insurance, $197 utilities and $114 set aside for maintenance.
What is the property tax rate in McCook?
McCook has an effective property tax rate of 1.266%, based on a median home value of $137,400 and median real estate taxes of $1,740. That is in line with the Red Willow County average of 1.262%.
What is the average home price in McCook?
The median owner-occupied home value in McCook, Nebraska is $137,400, against $143,500 across Red Willow County.
Is it cheaper to rent or buy in McCook?
Median gross rent in McCook is $783 a month, against $1,289 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 McCook?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in McCook, Nebraska at today's rate takes a household income of roughly $55,500 a year. That covers the full $1,289 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for McCook, 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.