Home Values Heating Up in Nebraska

At a time of low mortgage rates, see if homes in The Cornhusker State are a good deal.

Flags on a southern California street. Bill Chizek / Shutterstock

Thanks to low mortgage rates, it's an excellent time to buy or sell a home across the U.S. But what about in Nebraska?

Is the state's housing market too pricey for buyers? Not-so-great if you've got a home you want to sell? Or just right — for everybody?

Home values provide some answers. They indicate that the market in Nebraska is heating up, according to Zillow, though you might find vast differences from one city or one corner of the state to the next.

Current home values in Nebraska

Home values have been rising throughout Nebraska and are up 5.77% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $168,600 , Zillow says.

Could you afford that? Let's say you want to buy that mid-priced home using a 30-year fixed-rate mortgage at this week's average interest rate, which is a low 3.69%, says mortgage company Freddie Mac.

With the 30-year mortgage rate at 3.69% and the median home price for Nebraska at $168,600 , a representative monthly mortgage payment would be $775.08.

How the Nebraska housing market stacks up

Sunset over river and skyline, Omaha, NE.
DomVisuals / Shutterstock
Sunset over river and skyline, Omaha, NE.

Property values in Nebraska are high by historical standards and are lower than what the typical house is worth nationwide.

The median home value throughout the U.S. is $229,600, which is up 4.88% from a year ago.

Zillow predicts U.S. home values will rise 2.2% over the next year, while in Nebraska, they're expected to rise 0.10%.

Homes are going on the market in Nebraska at a median price of $126 per square foot, versus $155 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Nebraska home prices over the last 10 years

Year Avg. Price
2019* $166,288
2018 $158,133
2017 $147,375
2016 $138,433
2015 $131,733
2014 $125,425
2013 $121,892
2012 $117,958
2011 $117,150
2010 $119,033
2009 $118,408

*2019 price average through August 2019.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Nebraska is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2019* $315,000
2018 $300,000
2017 $282,500
2016 $262,500
2015 $252,500
2014 $237,500
2013 $230,000
2012 $220,000
2011 $215,000
2010 $225,000
2009 $220,000

*2019 price average through August 2019.