Current home values in Nebraska

Home values have been rising throughout Nebraska and are up 7.1% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $307,137, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Nebraska: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $307,137 home at 3.33% would give a typical Nebraska homebuyer a monthly payment of $1,080, assuming a 20% down payment.

How the Nebraska housing market stacks up

Family riding on a horse
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Families can enjoy country life after a busy work day

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Nebraska, they're predicted to rise 4.4%.

Homes right now are going on the market in Nebraska at a median price of $118 per square foot, versus $134 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
2020* $178,146
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

*2020 price average through March 31, 2020.

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
2020* $294,249
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

*2020 price average through March 31, 2020.

About the Author

Doug Whiteman

Doug Whiteman

Editor-in-Chief

Doug Whiteman is the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."