Omaha, NE Scores 89 on PropertyIQ. The Most Fairly-Valued Market in the Midwest.

Omaha scores 89 out of 100. In a national landscape where most markets are overvalued, oversupplied, or both, Omaha is a statistical outlier worth understanding.

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The Number That Sets Omaha Apart

Most markets in our database are overvalued relative to local income by 20% to 65%. Omaha is overvalued by 1.6% as of February 2026.

In a housing cycle defined by affordability compression, Omaha is essentially at fair value.

The median home value is $298,618 (Zillow, January 31, 2026). The median household income is $83,023. The estimated income needed to buy at current prices is $105,521 -- a gap that most earners in this metro can navigate.

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Why Omaha Scores 89

Inventory is stable. For-sale inventory grew just 0.52% year-over-year as of February 2026. Demand is keeping pace with supply.

Home sales are accelerating. Sales volume grew 14.5% year-over-year as of February 2026 -- one of the strongest transaction velocity readings in the Midwest right now.

Prices are rising steadily. Home values were up 1.16% year-over-year and 3.14% month-over-month as of February 2026.

Unemployment is among the lowest we track. At 3.1% as of November 2025, the Omaha labor market is exceptionally strong. The metro economy is anchored in finance, insurance, agriculture, and healthcare.

Price per square foot is $184. For context: Fresno, CA is $260/sqft. Spokane, WA is $234/sqft. For buyers measuring value per dollar, Omaha competes well against any Midwest market.

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Key Market Data (as of February 28, 2026 unless noted)

• PropertyIQ Score: 89/100
• Median home value: $298,618 (Zillow, Jan 31, 2026)
• Median listing price: $397,000 (Realtor.com, Feb 2026)
• Year-over-year price change: +1.16%
• Overvaluation vs. income: +1.6%
• Days on market: 46
• For-sale inventory: 2,020 homes
• Inventory change YoY: +0.52%
• Rent index: $1,388/mo (Zillow, Dec 2025)
• Unemployment: 3.1% (Nov 2025)
• Median household income: $83,023 (Census, 2023)
• 5-year home value change: +23.0%
• Zillow price forecast: +2.3% (12-month, Dec 2025)

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What This Means for Investors

At $1,388/mo rent on a $299K median value, the gross rent multiplier is roughly 18x -- comparable to Albany and well below the 25-30x seen in overvalued coastal markets.

The fair-value reading is the most important signal here. Markets near fair value tend to appreciate steadily. Omaha has been in that category for most of the past decade.

For cash flow investors, the combination of low purchase price, stable employment, and minimal overvaluation makes Omaha one of the stronger buy-and-hold setups in the Midwest right now.

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