What’s the average mortgage payment in Nebraska?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Nebraska is around $1,698 before property taxes and insurance. Nebraska remains one of the more affordable housing markets in the Midwest, supported by moderate home prices and steady demand across both urban and rural areas.

While affordability remains strong statewide, mortgage payments vary depending on proximity to metro areas such as Omaha and Lincoln.

Overview of the Nebraska housing market

The median sale price of a home in Nebraska is roughly $307,900, according to Redfin’s statewide housing data. Home prices have remained relatively stable compared to national trends, with higher values concentrated in eastern Nebraska, where the state’s largest cities are located, and more affordable options throughout the western part of the state.

Here’s a snapshot of recent median sale prices from Redfin across several Nebraska cities:

Factors that influence mortgage payments in Nebraska

Your monthly payment includes principal, interest, taxes, and insurance (PITI). Tools like the Rocket Mortgage^® mortgage calculator can help you see how different variables affect your payment.

Home price and down payment

Nebraska’s home prices are below the national median, which helps keep mortgage payments manageable for many buyers. For example, on a $307,900 home with a 20% down payment and a 6.5% interest rate, the estimated monthly principal and interest payment is around $1,560.

Putting less than 20% down typically requires private mortgage insurance (PMI), which can increase monthly housing expenses.

Mortgage rate

Your Nebraska mortgage rate depends on:

• Credit score and credit history
• Debt-to-income ratio (DTI)
• Loan type
• Down payment amount
• Home type and location
• Current market rates

Loan term

Loan length also influences your monthly payment. Most home buyers choose a 30-year or 15-year option. The 30-year mortgage is the most common of the two and allows you to spread out payments over a longer duration while making a smaller monthly payment. The 15-year mortgage can be a better option if you can afford higher monthly payments because you’ll pay much less in total interest.

Property taxes and insurance

Nebraska’s average property tax rate is about 1.50%, one of the highest in the country. Property taxes can add a significant amount to monthly housing costs, especially in higher-priced counties.

Homeowners insurance in Nebraska averages around $492 per month, reflecting exposure to severe weather risks such as hail and tornadoes.

How do mortgage payments in Nebraska compare to others in the region?

Nebraska’s mortgage payments are comparable to those of neighboring Midwestern states, though higher property taxes can push total monthly housing costs above some nearby markets.

Counties with the highest mortgage payments in Nebraska

Mortgage payments are highest in counties with strong job markets and higher home prices, particularly around the Omaha and Lincoln metro areas. Based on Q1 2025 data from the National Association of REALTORS^®:

Counties with the lowest mortgage payments in Nebraska

More rural counties across western Nebraska tend to have lower home prices and lower mortgage payments.

How to calculate your mortgage payment

Lenders use a standard formula that factors in the loan term, interest rate, and the loan amount.

Rocket Mortgage offers a simple online mortgage calculator that lets you adjust these variables and see how your monthly payment changes. Additional tools allow you to explore refinancing options, PMI estimates, and more.

Nebraska-specific mortgage resources

Nebraska offers several programs designed to help homebuyers afford a home:

• Nebraska Investment Finance Authority (NIFA): Offers affordable mortgage programs and down payment assistance for eligible buyers.
• Family Housing Advisory Services: Improves housing opportunities for Nebraskans through homeownership education, fair housing advocacy, and financial empowerment

Average mortgage payment in Nebraska FAQ

Where can I find the lowest average mortgage payments in Nebraska?

Sioux County has the lowest average mortgage payments in the state, at about $710 per month.

Which county has the highest average mortgage payments in Nebraska?

Douglas County has the highest estimated monthly mortgage payment, at roughly $1,970.

How much do you need to make to afford a home in Nebraska?

Using the 28/36 rule, a monthly mortgage payment of $1,698 suggests a household income of roughly $6,100 per month, or about $73,000 per year, depending on other debts.

The bottom line: Multiple factors shape your mortgage payment in Nebraska

Nebraska’s housing market remains relatively affordable, though high property taxes and insurance costs can increase monthly housing expenses. Understanding county-level differences and factoring in taxes and insurance can give buyers a better understanding of the true cost of homeownership in the state.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD.

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.