Total monthly cost of ownership
Cost to Own a Home in Wakefield, Nebraska
A $110,000 home here costs
$1,065per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $566. The real number is $499 higher every month — 88% 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.
Wakefield against Wayne County and Nebraska
| Measure | Wakefield | Wayne County |
|---|---|---|
| Median home value | $110,300 | $203,700 |
| Median property tax | $1,783 | $2,432 |
| Effective tax rate | 1.617% | 1.194% |
| Median gross rent | $808 | $732 |
| Population | 1,288 | 9,786 |
Wakefield extends across 2 counties. Figures here use Wayne County, where most of its housing sits.
The weather behind that power bill
Wakefield sits in Wayne County, which averages a high of 85.1°F in its hottest month and a low of 10.8°F in its coldest, with 27.47" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 854 cooling and 6,912 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Wayne County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wayne County
Common questions
How much does it cost to own a home in Wakefield?
A $110,000 home in Wakefield, Nebraska costs approximately $1,065 per month with 20% down at 6.66%. That is $566 principal and interest, $148 property tax, $69 homeowners insurance, $190 utilities and $92 set aside for maintenance.
What is the property tax rate in Wakefield?
Wakefield has an effective property tax rate of 1.617%, based on a median home value of $110,300 and median real estate taxes of $1,783. That is higher than the Wayne County average of 1.194%.
What is the average home price in Wakefield?
The median owner-occupied home value in Wakefield, Nebraska is $110,300, against $203,700 across Wayne County.
Is it cheaper to rent or buy in Wakefield?
Median gross rent in Wakefield is $808 a month, against $1,065 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 Wakefield — 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.