Nebraska · Population 488,197 · Updated March 2026
How far your income goes in Omaha
State-level tax rates that affect your costs
Omaha is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 80 (where 100 equals the national median), Omaha residents can expect to pay median rent of $1,150/month while earning a median household income of $72,708/year.
The median home value in Omaha, NE is $230,100, with typical monthly owner costs around $1,249 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
Nebraska has a moderate income tax rate of 6.64%. Combined with a 5.5% sales tax rate and 1.73% effective property tax rate, the overall tax environment is a factor in the total cost of living in Omaha.
Common questions about living costs in Omaha