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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 485,153, 197,842 total housing units (homes and apartments), and a median house value of $261,432, 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 63.60% of the city's housing units. Other types of housing that are prevalent in Omaha include large apartment complexes or high rise apartments ( 28.18%), row houses and other attached homes ( 3.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.53%).

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 56.53% owning and 43.47% 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 ( 29.28%). A lesser amount of the housing stock also hails from before 1939 ( 17.98%). There's also some housing in Omaha built between 2000 and later ( 14.63%).

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 95.28%, which ranks in the top 40% nationwide. This equates to an annual average Omaha house appreciation rate of 6.92%.

Appreciation rates are so strong in Omaha that despite a nationwide downturn in the housing market, Omaha real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Omaha appreciation rates continue to be some of the highest in America, at 7.03%, which is higher than appreciation rates in 74.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Omaha. Omaha appreciation rates in the latest quarter were at -1.16%, which equates to an annual appreciation rate of -4.54%.

Notably, Omaha's appreciation rate in the latest quarter is one of the lowest in America.

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

$261,432

Omaha, NE Home Prices
> $1,318,000
$989,001 - $1,318,000
$659,001 - $989,000
$528,001 - $659,000
$396,001 - $528,000
$264,001 - $396,000
$132,001 - $264,000
$66,001 - $132,000
$0 - $66,000
0.8%
0.8%
1.1%
1.1%
3.7%
3.7%
5.4%
5.4%
10.8%
10.8%
26.9%
26.9%
36.5%
36.5%
11.0%
11.0%
3.8%
3.8%
0% 100.0%
% of Homes
High

for Nebraska

Average

for nation

Number of Homes And Apartments:

197,842

Omaha Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,544 / per month

Homeownership Rate

Owners
Renters
56.5%
56.5%
43.5%
43.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.0%
6.0%
94.0%
94.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.6%
14.6%
38.1%
38.1%
29.3%
29.3%
18.0%
18.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
63.6%
63.6%
4.0%
4.0%
3.5%
3.5%
28.2%
28.2%
0.7%
0.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.7%
3.7%
15.6%
15.6%
24.9%
24.9%
34.5%
34.5%
16.4%
16.4%
5.0%
5.0%
0% 100.0%
% of Homes