How Much House Can You Afford in Omaha in 2025?

by Chris Jamison

If you’re thinking about moving to Omaha and wondering what your budget will actually get you, you’re not alone. The Omaha metro still offers solid value compared to most cities—but in 2025, it’s not quite the hidden gem it used to be.

Home prices have crept up, interest rates are still unpredictable, and more out-of-state buyers are entering the market. Whether you’re relocating for work, looking to upsize, or buying your first home, understanding what you can afford in Omaha depends on more than just the price tag.

Let’s break it down by budget—$250K, $400K, and $600K+—and look at real-world examples of what’s available.

💵 What $250,000 Buys You in Omaha

At this price point, you’re typically looking at starter homes—ranches or split-levels between 1,200–1,500 sq ft, often built between the 1950s and 1980s. Most homes in this bracket are located east of I-680, in neighborhoods like:

These areas often have mature trees, established communities, and relatively short commutes—but may come with dated interiors or a need for cosmetic updates.

Example listings in this range may include:

3 bed, 2 bath ranch in Westside School District for ~$220K
2 bed, 2 bath raised ranch in Benson with hardwood floors, listed at $245K

🛠️ Expect trade-offs like one-car garages, older HVAC systems, or smaller yards—but for first-time buyers or downsizers, this can be a great entry point.

🏠 What $400,000 Buys You in Omaha

$400K is the sweet spot for many relocating families, especially dual-income buyers from high-cost states. In this range, you’ll typically see:

3–4 bedrooms
2,000+ sq ft
Homes under 15 years old or fully renovated older homes

Popular neighborhoods in this price bracket include:

Expect features like quartz countertops, walk-in closets, functional mudrooms, and even new construction.

🧾 Important note on taxes: With new builds in Nebraska, your first year of property taxes is based only on the land value. That can save you some money up front—but expect a big jump in year two when the full home assessment kicks in.

✨ What $600,000+ Buys You in Omaha

Once you cross into the $600K+ range, you're entering what I like to call “luxury light.” That means:

Custom finishes
Larger lots
Three-car garages
Walkout basements
Better school districts

Top-tier neighborhoods for this range include:

Elkhorn South
Gretna East
District 66 / Westside

Expect to see homes with exposed beams, oversized kitchen islands, hidden pantries, and large basements with full bars and guest space. These are the kinds of homes that work great for entertaining, working from home, or just spreading out.

Example homes:

Older 6-bed, 6-bath home in Westside with over 5,000 sq ft for $720K
Newer build in Elkhorn with 6 beds, 3 baths, custom kitchen, and no backyard neighbors—for around $769K

🧮 Monthly Payment > Purchase Price

Here’s the thing most buyers overlook: what you can afford isn’t just the price—it’s the payment.

Factors that affect your monthly payment in Omaha include:

Mortgage interest rate
Property taxes (which vary wildly by area)
Insurance costs
Potential HOA fees

I’ve worked with buyers who could afford $500K in one neighborhood, but got a lower payment at $550K somewhere else simply because the taxes were lower. That’s why having someone local in your corner matters—someone who can help you evaluate the full picture.