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Sarah Mitchell
Compass Real Estate · Nebraska
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Nebraska housing market
Nebraska housing market summary
The typical home in Nebraska is worth $280,673, up 3.1% over the past year. Homes that actually closed went for a median of $319,100 after 27 days on market. On supply, pricing discipline, and speed of sale, Nebraska currently reads as a strong seller's market at 1.7 months of supply. At today's 7.03% 30-year fixed rate, that typical home costs $1,498 a month in principal and interest with 20.0% down.
Sources: Zillow, August 2026 · Refreshes monthly · Redfin, through May 2026 · Freddie Mac via FRED, September 2026
Nebraska housing market at a glance
Every tile carries the provider and the month it was published
Typical home value
$280,673
+3.1% YoY · Zillow, August 2026
Median sale price
$319,100
Redfin, through May 2026
Typical asking rent
$1,344/mo
Median of 18 cities · Zillow, August 2026
30-yr fixed rate
7.03%
Freddie Mac via FRED, September 2026
Monthly P&I
$1,498
20.0% down, 30-yr fixed
Days on market
27
+5 days YoY
Active listings
3,231
-25.9% YoY
Median household income
$74,985
U.S. Census ACS, 2023
Typical home value is Zillow's ZHVI — the value of a typical home across the whole housing stock, not just the homes that sold. Median sale price is what actually closed. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
Where Nebraska home prices are heading
Nebraska's typical home value is $280,673, up 3.1% over 12 months. The two-year number matters more than the one-year number: it spans a full rate cycle rather than a single seasonal swing. Values are at or within a rounding error of their two-year high.
Against the national picture, Nebraska runs 23.9% below the U.S. typical home value of $368,697, and its 12-month move of +3.1% is outpacing the national pace of +1.2%.
What would have to change for Nebraska prices to fall. Prices fall when supply outruns demand for long enough that sellers compete on price rather than waiting. Nebraska is carrying 1.7 months of supply — below the four-month line, so inventory would have to roughly double before sellers lose pricing power. Active listings are -25.9% year over year and new listings -15.6%, so supply is still tightening, which supports prices even with weak demand. The other lever is the rate. At 7.03%, existing owners with cheaper mortgages have little reason to list, which is what has kept supply artificially low across most of the country. A sustained move down in rates unlocks those sellers and adds inventory; it also adds buyers. Which side moves first decides the direction.
Market trends
Statewide monthly series · Redfin, through May 2026 · No longer updating · Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
What it costs to buy in Nebraska at today's rate
Down payment
$56,135
20.0% of value
Loan amount
$224,538
30-yr fixed
Monthly P&I
$1,498
at 7.03%
Income needed
$64,200
28.0% front-end ratio
A buyer purchasing the typical Nebraska home at $280,673 puts $56,135 down, finances $224,538, and pays $1,498 a month in principal and interest. Property taxes, homeowners insurance, HOA dues, and mortgage insurance sit on top of that and vary by county — budget for them separately rather than assuming the P&I figure is the payment.
Lenders typically want principal and interest under 28.0% of gross income, which puts the qualifying income for that purchase at roughly $64,200. Nebraska's median household earns $74,985 (Census ACS 2023) — a gap of $10,785 below what the median household brings in. Put differently, the median household would spend 24.0% of gross income on principal and interest alone — inside the ratio most lenders underwrite to.
The value-to-income ratio in Nebraska is 3.7x. Between roughly 3.5x and 5x, prices are ahead of local earnings but still within reach for higher-earning households. Model your own numbers in the affordability calculator or the mortgage calculator.
Figures are illustrative, not a quote or a pre-approval. Rate: Freddie Mac via FRED, September 2026 · Value: Zillow, August 2026 · Income: U.S. Census ACS, 2023
Buying in Nebraska in the next 12 months?
Tell us your timeline. We send the Nebraska market brief: the price ranges that are actually clearing, the cities where your budget goes furthest, and what to fix on your credit before you apply.
Rent or buy in Nebraska?
Zillow publishes its rent index per city rather than per state, so the honest statewide read is the median across the 18 largest Nebraska cities that carry it: $1,344 a month. Set against a typical home value of $280,673, that is a price-to-rent ratio of 17.4x.
Between 15x and 20x the two options are close enough that the tiebreaker is how long you stay, not the ratio itself. Principal and interest on the typical home runs $154 more per month than that typical rent — and that is before taxes, insurance, and the roughly 1% of value a year most owners spend on maintenance.
For a second read on the same question, the Census ACS puts median gross rent across all Nebraska households — every unit type, not just what is currently listed — at $1,035 a month (2023), with 66.5% of Nebraska households owning rather than renting. Asking rents lead the ACS figure because they reflect today's new leases rather than the whole stock of existing ones.
Run the rent-vs-buy calculator with your own holding period and down payment — the statewide ratio is a starting point, not an answer.
Supply: what is on the market in Nebraska
| Measure | Latest | Year earlier | Change |
|---|---|---|---|
| Active listings | 3,231 | 4,362 | -25.9% |
| New listings | 2,180 | 2,584 | -15.6% |
| Homes sold | 1,958 | 2,218 | -11.7% |
| Months of supply | 1.7 | 2.0 | -0.3 |
| Sale-to-list ratio | 100.0% | 99.2% | Above asking |
What these mean. Active listings is the shelf — everything a buyer could tour today. New listings is restock rate; when it falls faster than sales, the shelf empties. Months of supply is active inventory divided by homes sold per month: at the current sales pace, how many months it would take to sell every home currently listed. Under 4 months of supply tilts toward sellers, 4 to 5 months is the neutral band, and above 5 months tilts toward buyers — above 7 months is a glut. These are the same thresholds the market verdict on every city and ZIP page is scored against. Sale-to-list ratio is the discipline check — above 100% means homes are clearing over asking on average, below means sellers are conceding.
Redfin, through May 2026 · No longer updating — Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026. Zillow's inventory and new-listing counts are published per city and appear on the individual city pages.
Where Nebraska home values are moving fastest
12-month change in typical home value · Zillow, August 2026
Rising fastest
- 1.Wallace+13.2%
- 2.Allen+12.5%
- 3.Ponca+12.0%
- 4.Maxwell+11.9%
- 5.Staplehurst+10.6%
- 6.Riverdale+10.3%
- 7.Amherst+9.7%
- 8.Emerson+9.7%
Falling
- 1.Blue Springs-15.6%
- 2.Wymore-13.5%
- 3.Overton-3.3%
- 4.Plainview-3.1%
- 5.Odell-3.0%
- 6.Clatonia-2.3%
- 7.Platte Center-1.7%
- 8.Lexington-1.6%
Computed from Zillow's typical home value for each city at August 2026 against the same month a year earlier, across the 150 largest Nebraska cities by population. Small markets swing hardest because a handful of transactions moves the index — read the city page before treating a large move as a trend.
The most and least expensive cities in Nebraska
Typical home value across the 150 largest cities · Zillow, August 2026
Most expensive
- 1.Walton$694,075
- 2.Fort Calhoun$545,335
- 3.Valley$537,690
- 4.Malcolm$537,489
- 5.Pleasant Dale$498,280
- 6.Firth$473,290
- 7.Springfield$468,152
- 8.Waterloo$451,464
- 9.Garland$443,133
- 10.Gretna$428,058
Most affordable
- 1.Wymore$107,701
- 2.Newcastle$114,575
- 3.Wallace$132,832
- 4.Blue Springs$135,568
- 5.Allen$142,317
- 6.Morrill$153,129
- 7.Plainview$153,625
- 8.Osmond$157,831
- 9.Cozad$180,792
- 10.Scottsbluff$185,568
The spread between Walton and Wymore is 6.4x — one reason a single statewide number is close to useless for a buyer with a fixed budget. Pick the city first, then the price band. Speed is a separate axis from price: Louisville was the quickest of these markets to clear at 2 days on market (Redfin, through May 2026).
How Nebraska compares
| Market | Typical value | 12-mo change | Median income | Value / income |
|---|---|---|---|---|
| Nebraska | $280,673 | +3.1% | $74,985 | 3.7x |
| United States | $368,697 | +1.2% | — | — |
| Colorado | $532,748 | -1.4% | $92,470 | 5.8x |
| Iowa | $239,547 | +3.5% | $73,147 | 3.3x |
| Kansas | $249,603 | +3.8% | $72,639 | 3.4x |
The three states above are Nebraska's nearest land neighbours — the markets buyers most often price against when a move is still negotiable. Iowa and Kansas carry lower typical home value than Nebraska, which is what makes them the usual destination for equity-funded moves out of Nebraska.
Values and 12-month changes: Zillow, August 2026 · Refreshes monthly. Income: U.S. Census ACS, 2023. ACS publishes household income per state, not for the nation on the same basis, so the U.S. row shows home value only.
Nebraska housing markets by city
217 cities tracked — the 60 largest by population shown
Omaha
$296,615
Lincoln
$293,764
Bellevue
$300,450
Grand Island
$253,838
Kearney
$318,222
Fremont
$257,950
Norfolk
$259,095
Hastings
$206,294
Columbus
$271,400
Papillion
$411,607
North Platte
$219,736
La Vista
$310,256
Scottsbluff
$185,568
South Sioux City
$234,813
Beatrice
$186,905
Lexington
$202,545
Chalco
Pop. 11K
Gretna
$428,058
Gering
$214,930
Blair
$363,831
Seward
$314,419
Plattsmouth
$311,641
Ralston
$266,422
Wahoo
$291,426
Waverly
$352,957
Cozad
$180,792
Gothenburg
$199,210
Valley
$537,690
Ashland
$406,326
Central City
$207,139
Minden
$207,099
Dakota City
$254,381
Hickman
$389,881
Milford
$320,271
St. Paul
Pop. 3K
Bennington
$410,354
Madison
$210,595
Pierce
$294,504
Stanton
$257,954
Mitchell
$219,140
Woodland Park
Pop. 2K
Gibbon
$258,344
Springfield
$468,152
Yutan
$382,474
Battle Creek
$284,788
Arlington
$375,711
Wood River
Pop. 1K
Louisville
$351,245
Ceresco
$352,198
Shelton
$247,879
Ravenna
$226,126
Wakefield
$203,117
Wymore
$107,701
Fort Calhoun
$545,335
Weeping Water
$229,229
Plainview
$153,625
North Bend
$284,814
Sutherland
$236,991
Bennet
$418,868
Elm Creek
$246,485
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What to do next in Nebraska
If you are buying
- Set the payment before the price. Start from what you can carry monthly, then work backwards with the affordability calculator — the typical Nebraska home is $1,498/mo in P&I today.
- Pick the city, not the state. Values across Nebraska run from $107,701 in Wymore to $694,075 in Walton.
- Put two finalists head to head in the city comparison tool before you tour anything.
- Fix the credit file before you shop the rate. A better score moves the payment more than haggling over price does at 7.03%.
If you are selling
- Price against your city, not the statewide figure — the spread between Nebraska markets is wider than the year-over-year move in any of them.
- Read the supply table above. At 1.7 months of supply, you still set the terms — but only if the home is priced to the comps on day one.
- Watch days on market in your city, not the state. The statewide median was 27 days (Redfin, through May 2026); your city page carries its own.
- Time the listing against new-listing volume. New listings are -15.6% year over year — less competition than a year ago.
Nebraska housing market questions
What is the typical home value in Nebraska?
The typical home value in Nebraska is $280,673 (Zillow, August 2026). That is a +3.1% change over the past 12 months. The median price of homes that actually sold was $319,100 (Redfin, through May 2026); sale prices skew toward whatever segment is transacting, which is why they differ from the typical-value figure.
Are Nebraska home prices going up or down?
Nebraska home values are up 3.1% year over year (Zillow, August 2026). Values are at or near their highest reading in the past two years.
How much income do you need to buy a home in Nebraska?
At the current 30-year fixed rate of 7.03%, a $280,673 home with 20.0% down carries roughly $1,498 a month in principal and interest. Using the 28% front-end ratio most lenders underwrite to, that implies a household income of about $64,200 before taxes, insurance, HOA dues, or mortgage insurance are added. Nebraska's median household income is $74,985 (Census ACS, 2023), a gap of $10,785 below the median household. These figures are illustrative, not a quote or a pre-approval.
Is it cheaper to rent or buy in Nebraska?
Typical asking rent across the largest Nebraska cities Zillow publishes rent data for is $1,344 a month (median of 18 cities, Zillow, August 2026). Against a typical home value of $280,673, that is a price-to-rent ratio of 17.4x. Ratios under about 15x generally favour buying if you plan to stay put; above about 20x, renting and investing the difference tends to win over short horizons. Principal and interest alone runs $154 more than that typical rent each month, before taxes, insurance, and maintenance.
Which Nebraska cities are the most affordable?
Among the largest cities we track in Nebraska, the lowest typical home values are in Wymore ($107,701), Newcastle ($114,575), Wallace ($132,832), Blue Springs ($135,568), Allen ($142,317). Values are Zillow's typical-home-value index for August 2026.
Which Nebraska cities are the most expensive?
The highest typical home values among the largest Nebraska cities are in Walton ($694,075), Fort Calhoun ($545,335), Valley ($537,690), Malcolm ($537,489), Pleasant Dale ($498,280). Price per square foot, inventory, and days on market for each are on the individual city pages.
Which Nebraska cities are appreciating the fastest?
Over the past 12 months the largest home-value gains among Nebraska cities we track were in Wallace (+13.2%), Allen (+12.5%), Ponca (+12.0%), Maxwell (+11.9%), Staplehurst (+10.6%). Fast appreciation usually reflects constrained supply, in-migration, or a small transaction base — check the individual city page before reading it as a trend.
How long do homes take to sell in Nebraska?
Homes in Nebraska spent a median of 27 days on market in the last month Redfin published (Redfin, through May 2026). That is 5 days slower than the same month a year earlier. The quickest market among the state's largest cities was Louisville at 2 days. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
How does Nebraska compare to neighboring states?
Nebraska's typical home value of $280,673 compares with Colorado at $532,748, Iowa at $239,547, Kansas at $249,603. The U.S. typical home value is $368,697, putting Nebraska 23.9% below the national figure. Iowa and Kansas are cheaper on a typical-value basis.
Is now a good time to buy in Nebraska?
That depends on your timeline, not the headline. The measurable inputs today: a 30-year fixed rate of 7.03%, 1.7 months of supply statewide (Redfin, through May 2026), active listings -25.9% year over year, and home values +3.1% over the past year. Buyers with a five-year-plus horizon are mostly exposed to the payment, not the price, so the rate you can qualify for matters more than the month you buy. Properties Incorporated is an independent data platform, not a brokerage or lender — this is information, not advice.
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Neighboring state markets
- Colorado housing market — $532,748 typical value
- Iowa housing market — $239,547 typical value
- Kansas housing market — $249,603 typical value
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