Real Estate Relocation Guide To Nebraska

Relocating from Chicago to Nebraska is a major move. You’re crossing state lines and heading 550 miles to find a new home in a different community. By familiarizing yourself with the local real estate market, whether your destination is Omaha or Lincoln you can get a good idea of the Nebraska landscape and locate the best area for you and your family.

We’ll start with the big picture… Nebraska has an estimated population of 1.7 million* and around 76,800 square miles of land. The total number of housing units is 774,571, of which about 475,900 are owner-occupied and 225,000 are inhabited by renters. Roughly 73,600, or 9.5 percent, of the residences in the state are vacant. The median home value in Nebraska is $119,200 and the median household income is $45,474. For an idea of how this sizes up with national averages – the median home value in the U.S. is $185,200 and the median household income is $48,451.

Statewide figures provide a good overview of Nebraska, but when you’re planning to relocate to the region, knowing what types of housing are available is the most important thing. So here’s a breakdown of what Nebraska real estate has to offer…

About 9,600 homes in Nebraska are new construction, developed in 2005 or after (another 57,600 were put up between 2000 and 2004). Nebraska has its share of vintage charm as well with 186,300 residences built prior to 1940. The total number of detached, single-family houses across the state is 564,600, and there’s also a good selection of multi-unit residences and condos. Most homes have 2 bedrooms, but size varies greatly depending on where you look. And, in case you’re wondering about how your budget will pan out in The Cornhusker State, monthly mortgage costs in [Alabama] generally hover between $500 and 2,000.

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*All statistics are from the 2006 American Community Survey as shown on the U.S. Census Bureau website.
Sources: factfinder.census.gov and www.city-data.com