Omaha, NE Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Omaha, NE Housing Market Trends

With a population of 478,192, 186,883 total housing units (homes and apartments), and a median house value of $183,380, Omaha real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Omaha, accounting for 65.01% of the city's housing units. Other types of housing that are prevalent in Omaha include large apartment complexes or high rise apartments ( 26.14%), row houses and other attached homes ( 4.02%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.92%).

The most prevalent building size and type in Omaha are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.15% owning and 42.85% renting.

There is a lot of housing in Omaha built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Omaha built between 1940-1969 ( 29.91%). A lesser amount of the housing stock also hails from before 1939 ( 19.66%). There's also some housing in Omaha built between 2000 and later ( 10.79%).

Omaha Home Appreciation Rates

Appreciation rates for homes in Omaha have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 46.14%, which ranks in the top 30% nationwide. This equates to an annual average Omaha house appreciation rate of 3.87%.

NeighborhoodScout's data show that during the latest twelve months, Omaha's appreciation rate, at 5.14%, has been at or slightly above the national average. In the latest quarter, Omaha's appreciation rate has been 1.94%, which annualizes to a rate of 7.97%.

Relative to Nebraska, our data show that Omaha's latest annual appreciation rate is higher than 90% of the other cities and towns in Nebraska.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Omaha differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Omaha - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Omaha real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$183,380

Omaha, NE HOME PRICES

> $1,214,000
0.6%
0.6%
$910,001 - $1,214,000
0.7%
0.7%
$607,001 - $910,000
2.2%
2.2%
$485,001 - $607,000
2.3%
2.3%
$364,001 - $485,000
5.4%
5.4%
$243,001 - $364,000
15.7%
15.7%
$121,001 - $243,000
47.9%
47.9%
$61,001 - $121,000
19.7%
19.7%
$0 - $61,000
5.6%
5.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for NE

Value Relative To Nation

Number Of Homes And Apartments:
186,883

Omaha Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NE*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
72.29% 2.62%
3
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,164 / per month

Homeownership Rate

Owners
57.2%
57.2%
Renters
42.8%
42.8%
Vacant
7.3%
7.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.8%
10.8%
1970 - 1999
39.6%
39.6%
1940 - 1969
29.9%
29.9%
1939 or Older
19.7%
19.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.0%
65.0%
Townhomes
4.0%
4.0%
Small Apt. Buildings
3.9%
3.9%
Apt. Complexes
26.1%
26.1%
Mobile Homes
0.9%
0.9%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.6%
2.6%
1 Bedroom
16.0%
16.0%
2 Bedrooms
24.4%
24.4%
3 Bedrooms
35.0%
35.0%
4 Bedrooms
17.3%
17.3%
5 or more bedrooms
4.7%
4.7%
0.0% 100.0%
% OF HOMES