Nebraska’s largest city, Omaha offers a lively eating scene, nice people, and strong enterprises. The cost of living in Omaha is 8% cheaper than the national average. Career, average wage, and local real estate market can all affect the cost of living. It’s the ideal residence, so if you decide to relocate there you must concern about Omaha NE’s cost of living. Well, our guidelines here surely will help you to calculate the cost of living in Omaha NE.
Is it expensive to live in Omaha Nebraska?
While thinking about making a move to Nebraska, you probably picturise acres and acres of agricultural land and cattle, but the case is not the same in Omaha. With a nearly 500,000 population, it’s one of the largest cities in the US. In Omaha, one can enjoy the benefits of a larger city with a less price tag.
The cost of living in Omaha, Nebraska is 10% less than the US average and the average cost of living in Omaha is $1583 which is in #26 rank of the most expensive cities in the world and #7 out of #11 in Nebraska. These ranks are based on the factors like average salary, career, real estate market, and housing rental in that area.
Housing rents are expected to be less than the national average, where the median home value is also slightly less than the prices of any other state around the country. This makes the state one of the most affordable American cities to live in.
Cost of Living in Omaha
Our living cost indices start at 100, as a US average. Omaha NE’s cost of living is cheaper than the US average and offers the benefits of a megalopolis without the high cost. Also, while comparing the cost of living in Omaha Vs Denver, Omaha is 29% cheaper than Denver. A recent Penny Hoarder article ranked Omaha as one of the greatest locations for millennials. Experts expect that the median home value will climb by 3-4% in the coming years.
1. Groceries Prices in Omaha
A single adult in Nebraska spends an average of $3,025 on food each year, while a family of four spends an average of $8,736. We are providing the Cost of Food & Groceries indices and prices for meats, bread, sugar, and other essentials for your convenience!
|A loaf of fresh white bread (500g)||$2.60|
|Milk (1 liter)||$0.83|
|Local Cheese (1Kg)||$12|
|Beef Round (1kg)||$16|
How much is milk in Omaha Nebraska?
The cost of a 1-gallon of regular milk is $3.13.
How much does food cost in Nebraska?
In Nebraska, a single individual spends $3025 on average in a year for food and a family spends an average of $8736 which is slightly less than the national average which is $3240 for a single individual and $9354 for a family.
2. Price of Utilities
In comparison to the national average, Omaha’s utility prices are 14% lower. Look at the following cost of a utility in Omaha NE and you will find them less pricey.
|Charges (electricity, heating, water, garbage) for an 85m2 apartment||$196|
|1 min. of prepaid mobile local tariff||$0.08|
|Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)||$76|
How much do most utilities cost?
As per Energy Star.gov, Nebraskans spend an average basic home utility bill of $196.37 per month which includes electricity, cooling, hitting, water, and garbage for an 85m2 apartment.
This bill varies depending on the size of the home and family members, usage patterns and policies, and weather conditions of that area. Otherwise, you can say, utility prices in Omaha are 98.6, Nebraska is 95 and both the places have utility expenses less than the US average.
3. Cost for Healthcare in Omaha
Nebraska Medical Center is ranked 54th among the world’s greatest hospitals in Newsweek’s World’s Best Hospitals 2020 and the medical center was ranked #56 last year.
What is the average cost of healthcare per year?
Nebraskans get affordable healthcare facilities if they qualify for the Medicaid health insurance which had expanded by the state and federal government on 1st October 2020. The average health insurance cost in Nebraska for an adult is $567 per month. Similarly, the four cheapest health insurance monthly premium options provided by the metal tier system in Nebraska are as follows:
Catastrophic: $377/ month
Bronze expanded: $491/ month
Silver: $698/ month
Gold: $729/ per month
What is the average medical cost?
The average medical cost for a family in neighbors come is determined by insurance coverage number of family members covered through the insurance and their ages. Children under the age of 15 cost flat-rate coverage, after that the monthly rate increases as they grow other.
|Family size||Average medical cost per month|
|A single person and child||$1096|
|A couple of age above 40||$1371|
|Family of 3 a couple and a child||$1781|
|Family of 4 a couple and two children||$2191|
|Family of 5 a couple and three children||$2601|
4. Omaha Home Prices
You can pick from a wide range of houses in and around Omaha. Look for a place today. Start living the life you’ve always dreamed of, and forget about the headaches of property. Omaha, NE’s average home price is approximately $233,006. It’s a seasonal adjustment that only involves residences in the medium price bracket. In the last year, the value of a home in Omaha, Nebraska has increased by 13.9%.
Average house price in Nebraska
Research indicates that the average real estate rate in Nebraska increases at a rate of 3% to 4% every year. However, since 2021, house prices in Nebraska have steadily increased by 12%. The median home value for single-family homes before 2010 was $140,000 and now it is more than $250,000.
5. Average Rent By Bedroom
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|Apartment (1 bedroom) in City Centre||$877|
|Apartment (1 bedroom) Outside of Centre||$784|
|Apartment (3 bedrooms) in City Centre||$1,600|
|Apartment (3 bedrooms) Outside of Centre||$1,300|
How expensive are two-bedroom apartments in Omaha?
The cost of a two-bedroom apartment of size 1049 sq. ft. in Omaha is between $800 – $3200 and the average rent for a two-bedroom house or apartment in Omaha is $876.
How much does it cost to rent a one-bedroom apartment in Omaha?
The average rent of a one-bedroom house or apartment in Omaha is $1050 and the house prices range from $570 and $2575. The cost of one-bedroom house rents depends on several factors that include size, location, facility, and quality.
6. Omaha Tax Rates
Revenue from Nebraska’s Sales Tax is often one of its strongest sources. High taxes in New England have resulted in an exodus of workers, capitalists, and investors.
What taxes do you pay in Nebraska?
Nebraska imposes bulk tax revenue from personal income tax and sales tax. These taxes are collected by the state to fund various services by the state government. The primary taxes levied by Nebraska’s government include:
Personal income tax: 6.78%
Sales tax: 5.50%
Corporate income tax: 7.81%
Property tax: 1.61%
What is the property tax rate in Omaha?
The property tax rate imposed by the local governments in Omaha Nebraska is 1.61%. This is due to the fact that the state needs revenue to fund the government schools. In Omaha, public school revenues are funded by property taxes of about 55%.
7. Omaha Public Transportation
Omaha’s public transit is confined to buses. The airport is served by one bus service, but only at dawn and dusk. Getting about Omaha by bus is possible, but requires some planning.
|One-way Ticket (Local Transport)||$1.40|
|Monthly Pass (Regular Price)||$54|
|Taxi starting price (normal tariff)||$4.00|
|Taxi 1km (Normal Tariff)||$2.30|
|Taxi 1-hour waiting (normal tariff)||$35|
Are buses free in Omaha?
Nebraska had provided free bus rides, MOBY, and ORBT around surrounding areas of Omaha for all kindergarten to 12th-grade students which were started on May 10, 2021, and will end on June 1, 2022.
How much is public transportation in Omaha Nebraska?
The metro buses, ORBT that run throughout Omaha city are the only public transportation system facilitated by the state government. It provides services to Ralston, La Vista, Papillon, Bellevue, and Council Bluff. From Oct 1, 2021, ORBT is collecting fares that cost $1.25 for each trip with transfers of 25 cents. Details of metro fares and pass prices of ORBT are as follows:
|Adult individual express||$1.50|
|K-12 grade students||Free|
|Children under age 5||Free|
10 Ride Passes:
|Individual with transfers||$15.00|
|30 days unlimited access|
|30 days pass||$55.00|
8. Average Cost for Energy & Fuels
Nebraska generates 14% of the nation’s ethanol and 51% of its electricity from coal, 24% from wind, and 17% from nuclear power in 2020. The rest came from hydropower (4%) and natural gas. Except for North Dakota and Wyoming, Nebraska consumes more distillate fuel oil than any other state.
What is the average electric bill in Omaha Nebraska?
The average residential electricity bill in Omaha Nebraska is $120 per month for a single individual and $182 for 2 people living in a flat of 85m2 area.
What is the average gas price in Nebraska today?
The current average gas price in Nebraska is $3.845.
What is the diesel price in Nebraska?
The current diesel price in Nebraska is $4.800.
9. Miscellaneous cost
Tobacco products, school and college tuition, dry cleaning and laundry, cosmetics, haircuts, and dozens of additional things are all included in the miscellaneous cost of living. These costs are 16.7% lower in Omaha than in Minneapolis.
Average Miscellaneous Charges
Nebraskans spend around 19% of their salary on miscellaneous expenses. The breakdown of that 19% expenses is as follows:
|Miscellaneous expenses||Expenses in %|
|Personal care products||5.3%|
|Clothing and services||10.8%|
|Smoking and tobacco products||1.7%|
|Additional miscellaneous cost||10%|
Omaha NE cost of living FAQs
How much money do you need to live in Omaha Nebraska?
There is no reply to what are the good things to living in Nebraska because the US is a costly city and most Americans use a one-off used thumb rule for budgeting i.e. 50/30/20 – 50% of your income goes to necessities, 30% for entertainment, and fun and 20% on savings.
Therefore, to live comfortably in yet another US state, Omaha Nebraska has an increasing cost of living, their house owners need to earn a median income of $53,789 while covering a mortgage. Below shown are the living wages per annum of an individual in a household who must earn for his or herself and their family.
|Taxes||Single individual||1adult + 1child||1adult + 2 children||2 people + children|
|Annual income before taxes||$36539||$71793||$89873||$56897|
|Annual income after taxes||$28943||$56868||$71189||$45068|
Omaha NE has a great environment to raise a family with superb schools, affordable housing, easy commuting, and a low crime rate. Forbes recently named Omaha as the seventh greatest city for raising a family in the US Plus, there’s no shortage of family-friendly events! Ready to go? But don’t know how? No worries, click on how to get a passport in Nebraska? and apply for online services!
For additional information on Omaha’s restaurants, cultural attractions, real estate, and more, check out our newcomer’s guide! Want to learn more about how to become a notary in Nebraska? Click on the link and read on!