Total monthly cost of ownership
Cost to Own a Home in North Platte, Nebraska
A $160,000 home here costs
$1,523per 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 $65,500 a year.
A standard mortgage calculator would have told you $872. The real number is $650 higher every month, 75% more than the payment most buyers budget for.
Compare Lincoln 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.
North Platte against Lincoln County and Nebraska
| Measure | North Platte | Lincoln County |
|---|---|---|
| Median home value | $159,500 | $183,100 |
| Median property tax | $2,618 | $2,704 |
| Effective tax rate | 1.641% | 1.477% |
| Median gross rent | $882 | $867 |
| Population | 23,030 | 34,122 |
The weather behind that power bill
North Platte sits in Lincoln County, which averages a high of 87.0°F in its hottest month and a low of 14.0°F in its coldest, with 21.21" of precipitation a year and 48% of it in a single three-month stretch. That climate drives 794 cooling and 6,542 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Lincoln County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lincoln County
Full Lincoln County cost breakdown · Every county in Nebraska
Talk to someone who works this market
These are North Platte 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 North Platte every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in North Platte I already own here and may sell
Common questions
How much does it cost to own a home in North Platte?
A $160,000 home in North Platte, Nebraska costs approximately $1,523 per month with 20% down at 7.24%. That is $872 principal and interest, $219 property tax, $101 homeowners insurance, $197 utilities and $133 set aside for maintenance.
What is the property tax rate in North Platte?
North Platte has an effective property tax rate of 1.641%, based on a median home value of $159,500 and median real estate taxes of $2,618. That is higher than the Lincoln County average of 1.477%.
What is the average home price in North Platte?
The median owner-occupied home value in North Platte, Nebraska is $159,500, against $183,100 across Lincoln County.
Is it cheaper to rent or buy in North Platte?
Median gross rent in North Platte is $882 a month, against $1,523 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 North Platte?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in North Platte, Nebraska at today's rate takes a household income of roughly $65,500 a year. That covers the full $1,523 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for North Platte, 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.