Living in Nebraska: Income, Housing, Taxes & Cost of Living (2026)
By Wealthvieu
·
Updated
Table of Contents
Nebraska at a Glance
| Metric |
Value |
National Rank |
| Population (2024) |
2.0 million |
37th |
| Median household income |
$71,772 |
Above average |
| Median home price |
$260,000 |
Below average |
| Cost of living index |
90 |
Below average |
| State income tax |
2.46-5.84% (declining to 3.99% flat by 2027) |
Above average |
| Sales tax |
5.5% (+ local up to 2%) |
Average |
| Property tax (effective rate) |
1.63% |
High |
Income and Housing
| City/Area |
Median Income |
Median Home Price |
Median Rent (2BR) |
| Omaha |
$68,000 |
$280,000 |
$1,150 |
| Lincoln |
$65,000 |
$275,000 |
$1,050 |
| Grand Island |
$58,000 |
$210,000 |
$900 |
| Kearney |
$60,000 |
$230,000 |
$950 |
| North Platte |
$55,000 |
$190,000 |
$800 |
Tax Transition
Nebraska is reducing its income tax to a flat 3.99% by 2027. Current rates (2025):
| Taxable Income (Single) |
Rate |
| Up to $3,700 |
2.46% |
| $3,701-$22,170 |
3.51% |
| $22,171-$35,730 |
5.01% |
| Over $35,730 |
5.84% |
Property tax caution: Nebraska has the 7th highest property tax rate (1.63%), partially offsetting low housing costs.
Nebraska Pros and Cons
| Financial Pros |
Financial Cons |
| 10% below national COL |
High property taxes (1.63%) |
| Very low unemployment (<3%) |
Current income tax above average |
| Affordable housing (<$300K Omaha) |
Cold winters, heating costs |
| Fortune 500 HQs (Berkshire Hathaway, Mutual of Omaha) |
Limited metro areas |
| Income tax declining to flat 3.99% |
Small-city amenities |
Related: Cost of Living by State | State Income Tax Rates | Property Tax by State
