Short answer: In Omaha, NE, the median home value is $269,500 and the median 3-bedroom rents for $1,658/mo (Census ACS 2024). That's a rent-to-price ratio of 0.62%, so it misses the 1% rule and ranks #9 of the 50 largest US rental markets. With 20% down at 7.40%, FirstDoor scores a median-priced home Pass (−$618/mo cash flow).
Key numbers
The 1% rule in Omaha
Before running a full analysis, many investors check whether rent is at least 1% of price. This is where Omaha lands.
Across all rentals (not just 3-bedrooms) the ratio is 0.46%. A home renting for the median 3-bedroom rent would need to cost about $166,000 or less to pass.
A typical Omaha home, scored
We took a home at the median value, gave it the median 3-bedroom rent, and ran it through the same math as the FirstDoor calculator: 20% down, a 30-year loan at 7.40%, the city's median tax rate, and standard expense budgets.
| 3-bedroom rent (median) | $1,658 |
| Property tax ($4,464/yr, local median) | −$372 |
| Insurance ($1,350/yr, assumed) | −$112 |
| Vacancy 5% · Maintenance 5% · Management 8% | −$298 |
| Net operating income | $875 |
| Mortgage (P&I on $215,600 at 7.40%) | −$1,493 |
| Monthly cash flow | −$618 |
What price works in Omaha?
Same rent, different prices. Here's the most you could pay in Omaha for each result, keeping the median 3-bedroom rent and local tax rate.
Takeaways
- A 0.62% rent-to-price ratio puts Omaha in the middle of the pack (#9 of 50). Expect to hunt for below-median prices to make the numbers work.
- A median-priced home here would cost you about $618/mo out of pocket after the mortgage and every expense. To break even you'd need to pay about $184,000, 32% below the median.
- Rents are outrunning prices: the median 3-bedroom rent rose 12.3% from 2023 to 2024 while values rose 5.5%. That slowly improves the math for buyers.
- The rental market is tight: only 3.9% of rentals sit vacant (US: 5.7%). Good units should lease quickly.
- Property taxes are heavy: the median bill is $4,464, about 1.66% of value versus 0.89% nationally. Confirm the bill after purchase, since it can reset.
Frequently asked questions
Does Omaha pass the 1% rule?
No, on typical numbers. The median 3-bedroom gross rent is $1,658/mo and the median home value is $269,500 (Census ACS 2024 1-year), a ratio of 0.62%. To pass at that rent, a home would need to cost about $166,000 or less.
What is the typical rent for a 3-bedroom in Omaha?
The median gross rent for a 3-bedroom in Omaha, NE is $1,658 a month, and $1,229 across all rentals (Census ACS 2024 1-year). Gross rent includes utilities the renter pays, so the landlord's share can be a bit lower. The 3-bedroom median rose 12.3% from 2023.
Can you cash flow a rental in Omaha?
At the median price, not easily. With 20% down at 7.40% and realistic expenses, a $269,500 home renting for $1,658 loses about $618/mo. It breaks even at roughly $184,000.
How much cash do you need to buy a typical rental in Omaha?
About $62,000: a 20% down payment of $53,900 plus closing costs we assume at 3% ($8,100). Lenders often also want several months of reserves. Investment loans commonly need 15–25% down.
Is Omaha a good place to buy a first rental?
FirstDoor scores a median-priced home in Omaha as Pass (0 of 8 points). That's a starting point, not a verdict on every listing: neighborhoods vary, and buying below the median changes the math. Run any listing through the free calculator.
Compare similar markets
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Sources
Data: U.S. Census Bureau, 2024 American Community Survey 1-year estimates (released September 2025); year-over-year changes compare with 2023. Mortgage rate: Freddie Mac PMMS, week of October 15, 2026. Retrieved October 15, 2026. Insurance ($1,350/yr), closing costs (3%), maintenance (5%) and management (8%) are FirstDoor assumptions, not local data. Investment-property loans often price above the PMMS average. Medians describe the whole city, not any one home. Educational content, not financial advice.