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Omaha real estate market overview
- Average Monthly Rent: $1,145
- Home Price/Value Percentage Change: 5.00%
- Median Home Value: $268,080
- Best Time To Sell a Home: July
- Affordability Index: Moderate
- Days To Sell a House: 7
- Job Market: Weak
- Public School Ranking: 9
Location and weather
Omaha is the largest city in eastern Nebraska, and is situated on the Missouri River next to the Kansas border. Omaha is full of historic museums, parks, a botanical garden, the Lewis & Clark National Historic Trail and the Henry Doorly Zoo, which is a world class zoo famous for its involvement with breeding and restoring endangered species from around the world. Another main attraction is Omaha's famous TD Ameritrade Major League Baseball Park.
In Omaha, the summers are warm and wet, while the winters are freezing, dry, and windy. The summer temperatures are in the high 80's, with lows in the mid-60's. The winter temperatures are in the low 40's, with lows in the teens.
Population, job market and cost of living
Omaha's population in 2023 is 509,178, with a growth rate of 1.54%.
The job growth has decreased by -2.23% over the last year and in ten years, is predicted to have increased by 30.22%. The major industries are in healthcare, social assistance, retail trade, finance and insurance. The largest employers are Berkshire Hathaway, Union Pacific Railroad, Kiewit, Werner Enterprises and West.
The cost of living is moderate, due to the Omaha real estate market and availability of affordable housing. With the amenities of a large city, a variety of entertainment attractions, increasing job growth, and a low cost of living, Omaha will continue to attract those that want to live and work in this river city.
Omaha real estate market details
- Northwest Omaha
- Maple Village
- Oakbrook
- Horizons
- Benson
The average monthly rent in Omaha is $1,145 for an average apartment size of 913 sq. feet.
There has been a 5.0% increase in median home value over the last year. As of 2023, the median home value is $268,080.
On average, homes in Omaha sell after 7 days on the market.
The best time to sell a home for the highest valued sale is during July. For the quickest sale, homeowners should sell in July.
The affordability index in Omaha is 84. This number indicates moderate affordability in this city.
The top ranked public schools are Elkhorn South High School, Elkhorn North High School, Millard West High School, Millard North High School and Westside High School. This information is based on data measuring academic performance and equity.