Overview
Nebraska offers affordable housing anchored by Omaha, a growing metro with Fortune 500 headquarters including Berkshire Hathaway and Mutual of Omaha. Lincoln provides college-town atmosphere with the University of Nebraska. The state's agricultural heritage supports stable rural communities while urban areas continue to grow.
Nebraska Real Estate Market
Nebraska's housing market has shown steady appreciation, particularly in Omaha's suburban areas. The city has attracted corporate investment and young professionals. Lincoln benefits from state government and university employment. Property taxes are higher than neighbors but overall costs remain affordable.
Property Taxes in Nebraska
Nebraska has relatively high property taxes, particularly in comparison to neighboring states.
Average effective rate: 1.73%
Annual tax on median home: ~$4,585
Homestead exemption: Available for seniors and disabled veterans
First-Time Buyer Programs
NIFA Programs: Nebraska Investment Finance Authority offers:
- Homebuyer Assistance Program - Below-market rates
- Military Home - For veterans and military
- First Home Grant - Down payment assistance
Closing Costs in Nebraska
Nebraska closing costs are moderate, typically 2-2.5% of purchase price.
Common costs include:
- Title insurance: Based on purchase price
- Documentary stamp: $2.25 per $1,000
- Recording fees: County-dependent
Frequently Asked Questions
Omaha offers Fortune 500 headquarters, diverse employment, affordable housing, and excellent schools in suburban areas. The city is home to Warren Buffett and has a growing food and tech scene.
Nebraska's property taxes are higher than many Midwest states, which has been a political issue. However, overall cost of living remains affordable, and the taxes support good schools and services.
Lincoln is smaller with a college-town atmosphere centered on the University of Nebraska. It's more affordable than Omaha but has fewer corporate jobs. Lincoln offers a different lifestyle with strong community feel.