THE COST OF LIVING IN OMAHA NEBRASKA

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·        Omaha Nebraska is one of the most affordable places to live in the entire country. So, in this video we are going to break down the cost of living here in Omaha Nebraska and the cost of Buying a home, renting, utilities, taxes, entertainment and compare that to the rest of the country.

·        But before let’s hear from our sponsor this week… the IRS. Making sure you’re paying your fair share of taxes since 1862…. Just kidding. The IRS is not paying me but let me tell you I’m paying them…· 

·        What’s up guys, I’m Tyler your local realtor here in Omaha Nebraska and today I want to give you an inside look at the cost of living here in Omaha and If you’re even thinking about moving here give me a call… I have people from all over the country contacting me and I absolutely love it. If your new here hit that subscribe button or smash it if that’s your thing, but enough of these pleasantries lets get into the video.

·        So, the biggest factor to the cost of living is housing prices and can greatly affect your lifestyle. So how much is it going to cost you to buy a home here in Omaha. well the median sold price in Sarpy and Douglas county is 215,000. Now Sarpy and Douglas county make up all of the Omaha metro area But if you interested in prices in school districts like elkhorn, Gretna, Bennington  and Papillion or maybe your military looking to be close to Offutt Airforce base in Bellevue hang out with me till the end and I’m going to break down Home prices in these areas.

·        Our 215,000 median prices are not too far off the average housing price for the united states at $200,000 and if you look at Places like New York City the average house price is almost 800k

·        Now I understand I really can’t compare Omaha to New York City. But to be honest with you it makes me feel good knowing that it is so much more affordable here.

·        If your looking to rent. You can typically find a 2-bedroom apartment for about 1,100 compared to the national average of 1,500. Compare this to New York city at $3,675 and your probably already booking you flight to Omaha. To put it simply… Life is Good here.

·        So now you’re in a home, lets talk about the average utilizes you will see here. You can expect your gas and electric bill to average out around 185 a month and internet to be around 50

·        When it comes to public transportation your options are limited to the public bus system that really focuses on the downtown area and up and down Dodge street. The cost is fairly cheap at a monthly cost of only $55.

·        Your second option is driving your car to work, which is what 99% of people do here. Gas prices as of January 2020 are around 2.25 plus the average commute time here is only 23 minutes. Just last week during rush hour traffic I drove from downtown Omaha all the way out to 180^th and Q in 30 minutes. These may change so just comment below and ill let you know what has changed at the time you are watching this video.

·        You’re probably not just going to work a ton and put your cash under the mattress. Its time to enjoy a night out with friends and family.

·         Here is what you can expect to pay for a typical dinner. The average plate per person is around $12 but In 2010 Omaha added a very friendly restaurant tax of 2.5% to every bill. For the most part gratuity is not added so all together… dinner for 2 is going to cost you about 50 bucks but could be more if you enjoy a drink or 2 or 3.

·        Drink responsibly. Just throwing that out there…

·        Now since the IRS did not sponsor this video let’s talk about taxes anyway because we love Uncle Sam. Here in Omaha Nebraska we have a combined sales tax 7%. But no tax on groceries or raw food.

·        Then we have property taxes. In Omaha the tax levy is .028% of the assessed value which is 10-20% below the purchase price of your home making a 200k home around 4000per year

·        To most, this is a lot but when you look at the total cost of owning a home here compared to other parts of the country it is a phenomenal deal because the cost of living is so low.

·        Let’s look at it another way. The Median income in Omaha is just under $60,000 and is not far behind the national median income of 63,000. But what is crazy is it is more then New York City at a median price of $58,000. So… houses there are grossly more expensive, and we also make more money here…. It makes sense that almost 60% of residents here in Omaha are homeowners while in New York only 31% are…

·        Ok so let’s break down the different areas of town for housing costs. Now remember the cost of housing (as a whole) was $215,000.

o   If you just take the city limits of Omaha it drops to 196k

o   Now Gretna just south west of Omaha has a median price of 296k

o   Bennington just north is 290k

o   Elkhorn which is a very desirable area is 405k

o   La vista just south 210k

o   Head a little further south to Papillion and those prices are around 296k

o   And then just East of Papillion is Bellevue at 195k

·        Now all these are the median prices in these areas. These higher prices are not because the same 3 bed 2 bath 1500 sq/ft home is drastically different… its because more expensive homes are being built in these areas because the are desirable to live in. Typically, because of the school district.

Ok, there you have it guys, the cost of living in Omaha Nebraska. Finding the right place or neighborhood that will fit you or your family can be a daunting task especially when you’re from out of state. So, if you even thinking about moving here give me a call… you can find my contact info in the description.

Oh, and comment below with your thoughts or if I missed something that would be helpful to the community here. And I hope to see you here in Omaha very soon or at least in the next video!