Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$306,318+2.7% YoY · prices are rising
Market right nowBalanced, leaning sellersMore homes for sale than last year, 16% have cut their price
Income needed to buy, per year$66,403About 0.8× the local median income ($85,530): affordable for a typical household
Days on market38 daysAbout the same pace as a year ago
Next 12 months+2.8%Zillow expects prices to rise slightly
The typical home in Omaha, NE-IA is worth $306,318, up 2.7% from a year ago. That is well above what local incomes have historically supported: fair value is about $269,055, so the area is 13.8% overvalued. It is a balanced market, leaning toward sellers: homes take about 38 days to sell, listings are up 1% from a year ago, 16% of listings have had a price cut. Zillow expects prices to rise about 2.8% over the next year. A household needs about $66,403 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $85,530. Typical rent is $1,398 a month, or $1,996 for a house. In the latest IRS figures, 430 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$306,318
Change in 1 year
+2.7%
Overvalued %
+13.8%
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Fair home value
$269,055
Change in 5 years
+24.5%
Zillow forecast, next 12 months
+2.8%
Home value to income
3.6×
Monthly mortgage payment (20% down)
$1,660
Income needed to afford it
$66,403
Property tax rate
1.64%
Rent and investing
Typical rent
$1,398
Typical rent for houses
$1,996
Price-to-rent ratio
18.3×
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HUD Fair Market Rent, 2 bedrooms
$1,443
Gross rental yield
5.48%
Cap rate (estimate)
3.56%
Market activity
Listings vs a year ago
+1.0%
Days on market
38
Listings with a price cut
15.9%
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Homes for sale
2,864
Pending sales per 100 listings
53
Asking price per sq ft
$178
People and jobs
Median household income
$85,530
Population change (1 year)
+1.0%
Unemployment rate
3.4%
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Population
1,009,836
Income adjusted for cost of living
$93,069
Net moves in (IRS)
+430
Cost of living (US = 100)
91.9
Schools, risk and environment
School rating (1 to 10)
5.5
FEMA hazard risk score (0 to 100)
85.0
Unhealthy air days a year
2
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Flood risk score
82.4
Wildfire risk score
83.4
Walkability (1 to 20)
9.7
Road, rail and air noise
54 dB
Questions people ask
Is Omaha, NE-IA overvalued?
Home prices in Omaha, NE-IA are well above what local incomes have historically supported: fair value is about $269,055, so the area is 13.8% overvalued.
Is Omaha, NE-IA a buyer's or seller's market?
Omaha, NE-IA is a balanced market, leaning toward sellers: homes take about 38 days to sell, listings are up 1% from a year ago, 16% of listings have had a price cut.
Are home prices going down in Omaha, NE-IA?
Home values in Omaha, NE-IA are up 2.7% over the last year. Zillow's forecast for the next 12 months is +2.8%.
How much do you need to earn to buy a home in Omaha, NE-IA?
A household needs about $66,403 a year to afford the typical home in Omaha, NE-IA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $85,530.