Total monthly cost of ownership
Cost to Own a Home in Omaha, Nebraska
A $230,000 home here costs
$2,135per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $91,500 a year.
A standard mortgage calculator would have told you $1,274. The real number is $861 higher every month, 68% more than the payment most buyers budget for.
Compare Douglas 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.
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 $132 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
Talk to someone who works this market
These are Omaha 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 Omaha every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Omaha?
A $230,000 home in Omaha, Nebraska costs approximately $2,135 per month with 20% down at 7.4%. That is $1,274 principal and interest, $324 property tax, $145 homeowners insurance, $200 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 $2,135 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 Omaha?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Omaha, Nebraska at today's rate takes a household income of roughly $91,500 a year. That covers the full $2,135 monthly cost, not just the mortgage payment.
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.