Cost of Living in Nebraska
Nebraska offers quiet rural and city living, both for much less money than other states. With nearly 480,000 inhabitants, Omaha is a dynamic place of life. Lincoln, with approximately 290,000 residents, is also an attractive place to live. Housing markets are growing in many American cities, including Omaha and Lincoln. While rents are rising in many parts of the country, the cost of living in Nebraska is relatively stable and affordable compared to other states.
On a cost of living scale where the national average is 100, housing in Nebraska is 89.1. The cost of housing in Omaha is a bit higher at 76.5 but still significantly lower than the national average. Lincoln’s housing cost is slightly higher at 78.1 but still well below average. Learn more about the cost of living, apartment options in Nebraska, and other expenses such as rent in the state.
How much does an apartment cost in Omaha and Lincoln?
The Omaha market has mostly stable rents in 2021 compared to 2020. Considering Omaha’s cost of living, studios have a median rent of $ 799 based on 108 available units, up 1% year on year. One-bedroom apartments have a median rent of $ 810 based on 594 units available, down 1% from last year. Two-bedroom apartments have a median cost of $ 999 per month based on 389 units available, up 2% from a year ago. Three-bedroom units have a median rent of $ 1,345 based on 100 available units, up 8% year over year.
When positioned against a cost of living comparison to Omaha, Nebraska, Lincoln’s housing market is stable, with increases and decreases based on the number of bedrooms. In Lincoln, studios have a median rent of $ 699 based on 14 available units, up 5% year over year. One-bedroom apartments have a median rent of $ 790 based on 145 available units, down 5% from last year. Two-bedroom apartments have a median cost of $ 899 per month based on 141 available units, a decrease of 1% from a year ago. Three-bedroom units have a median rent of $ 1,350 based on 45 available units, up 17% over the year.
How do I find budget apartments in Omaha and Lincoln?
Budget apartments are readily available in Nebraska. Finding affordable housing is easier in this state when you compare the cost of living in Nebraska with other areas. For those on a tighter budget, alternatives such as renting a mobile home, finding a renovated garage or attic apartment, or a roommate to share the expenses are viable options.
Alternatives to traditional apartment living often come with the same rental agreements and regulations, such as security deposits and other fees. When you share an apartment, your roommates may need to sign individual leases.
Whatever type of accommodation you are looking for, create and keep a list of your basic needs to have on hand for reference when asking questions during your search. Search our site for current openings in Omaha and Lincoln to find an apartment that meets your needs. You can filter your results by accommodation type, location, number of bedrooms and bathrooms, amenities and price range.
When determining the rent you can afford, keep in mind that the rental fee should be less than 30% of your income. To get the best rental rate, you’ll want to consider deciding factors like whether you have pets, specific amenities, total travel time, and whether you need a roommate. Apartments that cost less to rent may not have a dishwasher, have a smaller laundry room, or have a smaller kitchen with fewer appliances.
Access to public transportation, amenities available in the neighborhood, and your commute time should be factors to consider. The location of your rental unit can have a significant impact on costs. The ability to be flexible where you live can help save you money. You will need to decide whether a shorter commute to work or to see your friends and family is worth spending a little more money on an apartment.
What is the cheapest rent in Omaha and Lincoln?
Once you have determined your needs and the deciding factors, you can start looking for your apartment. Plan to spend some time exploring all of the options and comparing them against your list of requirements to find the one that works best for you and your budget.
Omaha has studios as low as $ 475, with one-bedroom units as low as $ 400 and two-bedroom units as low as $ 450. Lincoln has studios as low as $ 400, with one-bedroom units as low as $ 460 and two-bedroom units as low as $ 520.
Low-cost apartments do not stay vacant for long. You may want to consider speaking with an owner or property manager to find out about planned vacations. Check early and get on the waiting list, if available. For the Omaha and Lincoln markets, you will find several apartments available below mid-price.
When looking at the rental price, be sure to know what the cost of the rental covers. Does it include electricity, heat, garbage, water, internet or other expenses? Also consider the cost of the security deposit. The amount of the security deposit varies and can be a few hundred dollars or up to two months rent.
How do Omaha and Lincoln compare to other cities?
The overall cost of living includes shelter as well as other factors such as energy, food, health care and transportation costs. If you are moving to the area and need a new job, you can use a cost of living calculator to estimate a salary you can expect to earn.
Finding a place to live for less may require balancing the desired location with the desired amenities. If you don’t need a pool, fitness center, or the great outdoors, you’re more likely to find affordable housing. Great deals on apartments with extra amenities are also possible in affordable markets such as Omaha and Lincoln.
Ready to relocate to Nebraska? Search thousands of apartments for rent on Zumper and find the one you call home.