Year after year, The Good Life is becoming less attainable for Nebraskans. Paychecks can’t keep up with home prices. It’s pricing out young Nebraskans who dream of becoming homeowners.
From 1970 to 2024, the median household income in Nebraska, adjusted for inflation, grew by 40%. In that same time frame, the median home price more than doubled, growing by 125%.
And it has grown far worse since the COVID-19 pandemic: From 2020 to 2024, the median household income in Nebraska grew by a fraction of a percent. Home prices skyrocketed 20%.
This calculator estimates a rough “affordable” home price using a common rule of thumb: roughly 2.5 times your gross annual income, plus a $10,000 down payment. Enter your income and pick a county to see how that number compares to actual home values across the state.
Our affordability calculator is based on the simplified idea that you can comfortably afford a house worth 2 to 3 times your annual income. It does not take into account loan terms like interest rates. Median home value data was pulled from the American Community Survey 5-year estimates and adjusted for 2024 inflation. Read more about our methodology here.
Priced out of The Good Life
Year after year, The Good Life is becoming less attainable for Nebraskans. Paychecks can’t keep up with home prices. It’s pricing out young Nebraskans who dream of becoming homeowners.
It’s leading to apartments outpacing single-family homes in Omaha’s construction scene and skyrocketing home prices in Lincoln. It’s forcing bidding wars in the smallest of towns and pushing communities to try out new solutions like down payment assistance. Our series, “Priced out of The Good Life”, examines the realities and barriers to homeownership across the state.
