Omaha Nebraska Residential Rent and Rental Statistics
The median monthly gross residential rent in Omaha, NE (the Omaha-Council Bluffs metro area) was $949 in 2019 according to the Census ACS survey.1 Average gross rent in Omaha was $979 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Omaha median and average rent data will be released in September of 2021.
Data is also available below for Omaha rental vacancy rates, Omaha rent as a percent of median income and the fraction of renters in Omaha.
Real Gross Rent in Omaha Nebraska (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Nebraska Median Gross Rent | $859 | +1.66% | +6.71% |
| Omaha, NE Median Gross Rent | $949 | +2.48% | +4.06% |
Omaha, NE Real Gross Rent Trends
At $949, real median gross rent in Omaha was at its highest level in 2019 since the series began in 2005. At $979, real average gross rent in Omaha was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Omaha: Omaha NE Median, Omaha NE Average, Nebraska Median, US Median
Real Gross Rent History for Omaha
| Date | US Median |
Nebraska Median |
Omaha, NE Median |
Omaha, NE Average |
|---|---|---|---|---|
| 2019 | $1,097 | $859 | $949 | $979 |
| 2018 | $1,077 | $845 | $926 | $960 |
| 2017 | $1,043 | $826 | $919 | $943 |
| 2016 | $1,027 | $805 | $912 | $939 |
| 2015 | $1,017 | $796 | $886 | $924 |
| 2014 | $986 | $783 | $876 | $908 |
| 2013 | $953 | $752 | $825 | $859 |
| 2012 | $940 | $736 | $827 | $835 |
| 2011 | $941 | $727 | $809 | $845 |
| 2010 | $955 | $748 | $841 | $860 |
| 2009 | $960 | $734 | $831 | $839 |
| 2007 | $927 | $721 | $817 | $824 |
| 2005 | $910 | $711 | $808 | $816 |
Omaha Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Omaha Nebraska was 7.36% according to Census ACS data.
Rental Vacancy Rate in Omaha Nebraska
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Nebraska | 5.92% | +0.17% | +0.94% |
| Omaha, NE | 7.36% | +1.21% | +0.97% |
Trends in Omaha, NE Rental Vacancy Rate
The rental vacancy rate in Omaha peaked in 2007 at 10.47%. Since then it has fallen by 3.11% to 7.36%. Data records for this series originated in 2005. From a 2013 post peak low of 5.43%, the rental vacancy rate has increased by 1.93%.
Rental Vacancy Rate: Omaha NE, Nebraska, US
Historical Rental Vacancy Rate data for Omaha
| Date | US | Nebraska | Omaha, NE |
|---|---|---|---|
| 2019 | 5.97% | 5.92% | 7.36% |
| 2018 | 6.15% | 5.75% | 6.15% |
| 2017 | 6.18% | 6.27% | 6.66% |
| 2016 | 5.89% | 4.98% | 6.39% |
| 2015 | 5.85% | 5.65% | 5.71% |
| 2014 | 6.32% | 5.80% | 7.66% |
| 2013 | 6.49% | 5.60% | 5.43% |
| 2012 | 6.77% | 5.97% | 7.91% |
| 2011 | 7.40% | 6.44% | 8.78% |
| 2010 | 8.17% | 6.54% | 7.35% |
| 2009 | 8.43% | 7.43% | 9.27% |
| 2007 | 7.87% | 8.80% | 10.47% |
| 2005 | 7.74% | 8.14% | 8.37% |
Rent as a Fraction of Income
Using median household income data for Omaha, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Omaha, median monthly gross rent as a fraction of median household income was 16.18% in 2019 according to the ACS.
Omaha Nebraska Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Nebraska | 16.30% | -0.42% | +0.09% |
| Omaha, NE | 16.18% | -0.30% | -0.61% |
Trends in Omaha, NE Rent as a Fraction of Income
The fraction of median Omaha household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 17.31%. Since then it has fallen by 1.13% to 16.18%.
Fraction of Income towards Rent: Omaha NE, Nebraska, US
Historical Data for Annual Rent as a Fraction of Income in Omaha Nebraska
| Date | US | Nebraska | Omaha, NE |
|---|---|---|---|
| 2019 | 20.03% | 16.30% | 16.18% |
| 2018 | 20.50% | 16.72% | 16.49% |
| 2017 | 20.13% | 16.03% | 16.29% |
| 2016 | 20.43% | 16.21% | 16.79% |
| 2015 | 20.63% | 16.36% | 16.42% |
| 2014 | 20.89% | 16.90% | 17.31% |
| 2013 | 20.78% | 16.66% | 16.97% |
| 2012 | 20.65% | 16.37% | 17.22% |
| 2011 | 20.70% | 16.06% | 16.32% |
| 2010 | 20.50% | 16.58% | 16.71% |
| 2009 | 20.12% | 16.32% | 16.73% |
| 2007 | 18.66% | 15.65% | 15.76% |
| 2005 | 18.89% | 15.57% | 15.75% |
Renter Fraction in Omaha Nebraska
You can calculate the renter fraction in Omaha in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Omaha as a fraction of total Omaha households. In 2019 33.94% of households were renters according to Census ACS data.
Omaha Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Nebraska | 33.71% | -0.23% | -0.97% |
| Omaha, NE | 33.94% | -1.15% | -1.39% |
Trends in the Omaha, NE Renter Fraction
The Omaha household renter fraction peaked in in 2016 at 35.33% and is now 1.39% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Omaha NE, Nebraska, US
History of Omaha Renter Fraction
| Date | US | Nebraska | Omaha, NE |
|---|---|---|---|
| 2019 | 35.89% | 33.71% | 33.94% |
| 2018 | 36.05% | 33.94% | 35.09% |
| 2017 | 36.13% | 33.72% | 35.01% |
| 2016 | 36.88% | 34.68% | 35.33% |
| 2015 | 36.97% | 34.10% | 34.22% |
| 2014 | 36.90% | 34.06% | 35.00% |
| 2013 | 36.50% | 33.96% | 35.24% |
| 2012 | 36.09% | 33.66% | 34.44% |
| 2011 | 35.42% | 33.09% | 33.52% |
| 2010 | 34.65% | 32.62% | 32.13% |
| 2009 | 34.13% | 32.76% | 32.91% |
| 2007 | 32.80% | 31.24% | 31.08% |
| 2005 | 33.10% | 31.76% | 33.18% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
