Total monthly cost of ownership
Cost to Own a Home in Omaha, Nebraska
A $230,000 home here costs
$2,033per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,182. The real number is $851 higher every month — 72% 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.
Omaha against Douglas County and Nebraska
| Measure | Omaha | Douglas County |
|---|---|---|
| Median home value | $230,100 | $245,800 |
| Median property tax | $3,895 | $4,295 |
| Effective tax rate | 1.693% | 1.747% |
| Median gross rent | $1,150 | $1,162 |
| Population | 488,197 | 585,461 |
The weather behind that power bill
Omaha sits in Douglas County, which averages a high of 85.9°F in its hottest month and a low of 14.0°F in its coldest, with 33.17" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 1,044 cooling and 6,209 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Douglas County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Douglas County
Full Douglas County cost breakdown · Every county in Nebraska
Common questions
How much does it cost to own a home in Omaha?
A $230,000 home in Omaha, Nebraska costs approximately $2,033 per month with 20% down at 6.66%. That is $1,182 principal and interest, $324 property tax, $145 homeowners insurance, $190 utilities and $192 set aside for maintenance.
What is the property tax rate in Omaha?
Omaha has an effective property tax rate of 1.693%, based on a median home value of $230,100 and median real estate taxes of $3,895. That is lower than the Douglas County average of 1.747%.
What is the average home price in Omaha?
The median owner-occupied home value in Omaha, Nebraska is $230,100, against $245,800 across Douglas County.
Is it cheaper to rent or buy in Omaha?
Median gross rent in Omaha is $1,150 a month, against $2,033 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 Omaha — 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.