Omaha is the largest city in Nebraska and the 40th-largest city in the United States. Located on the banks of the Missouri River, the so-called Gateway to the West is home to the College World Series, the Henry Doorly Zoo and Aquarium, world-famous steakhouses and more than 470,000 people.
Omaha is a growing city that provides plenty of opportunities in the finance, tech, green energy and agriculture industries. But it's also quiet and affordable enough to raise a family.
Omaha is one area of the country where you can still find inexpensive apartments for rent. The average rent for a one-bedroom in Omaha is $950 a month, which is $648 less than the national average.
Omaha rent for a one-bedroom apartment has increased by 1.46 percent year-over-year. Meanwhile, a one-bedroom in the Midwest region increased by 2.7 percent year-over-year.
Despite being the most urban center in Nebraska, Omaha can provide a nice bang for your buck.
Financial experts recommend spending no more than 30 percent of your gross income on rent and housing costs. To live comfortably, Omahans need a salary of about $38,000 a year to afford a one-bedroom apartment. The average salary in Omaha is $64,000 a year.
Nebraska consistently has one of the lowest unemployment rates in the United States, so if you work in a high-demand field, such as finance, tech, healthcare or green energy, you may find yourself making Omaha your permanent home.
Use our rent calculator to determine how much rent you can afford and which neighborhoods suit your budget.
Few cities beat Omaha in cost of living, which is 6.4 percent lower than the national average. Combined with a strong economy and good schools, Omaha is a comfortable place to live for growing families and young professionals.
Here's how the costs of everyday essentials stack up against elsewhere in the nation:
While Omaha is overall an affordable city, some neighborhoods are significantly higher-priced than others.
The most expensive communities are on or near Dodge Street, one of Omaha's main streets. Dodge Street extends across all of Douglas County and provides easy access through most of the city. Two of the most coveted neighborhoods in this area, Aksarben/Elmwood Park and Dodge Street Corridor, are especially popular with students and young professionals.
Centrally-located older Omaha communities east of 72nd Street, such as Morton Meadows and Leavenworth, balance urban living with historic charm and it is more expensive due to their proximity to downtown with easy access to Interstate 80 for fast commutes to Lincoln or Iowa.
Areas north of Dodge, such as Benson Gardens and North Omaha, are popular among creative professionals and entrepreneurs and for their affordable housing, innovative small businesses and community involvement.
Westbound neighborhoods have a mix of affordable and higher-priced apartments. These areas are getting popular due to easy access to I-80 and expansive parks and trails with native prairie flora. Rental rates in Northwest Omaha increased 14.26 percent from last year.
Located in the heart of central Omaha near the University of Nebraska, the Aksarben/Elmwood Park neighborhood has some of Omaha's most expensive apartments.
Named for the historic horse-racing park (and Nebraska spelled backward), Aksarben remains an integral part of Omaha's high society and culture. Aksarben/Elmwood Park residents enjoy access to university events, Aksarben Village with shopping and dining options and an open concert venue at Stinson Park. The average price for a one-bedroom apartment in Aksarben/Elmwood Park costs $1,283. That's 35.1 percent higher than the average one-bedroom price in the whole city. The area saw a rent increase of 2.29 percent year-over-year.
Two other more expensive neighborhoods are Old Market and Leavenworth, which offer a taste of downtown replete with cobblestone streets, fine-dining restaurants and nostalgic ice cream and candy shops.
Old Market hosts a weekend farmers market where vendors from all over the Midwest sell everything from honey to hot sauce. While downtown, you could easily walk from dinner to see a show at the Orpheum Theater or to one of the many art galleries. The average price for a one-bedroom apartment in Leavenworth is $1,191, while the average price for a one-bedroom in Old Market is $1,026.
Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
---|---|---|---|
1 | Aksarben - Elmwood Park | $1,283 | 2.29% |
2 | Dodge Street Corridor | $1,234 | N/A |
3 | Leavenworth | $1,191 | 1.99% |
4 | Morton Meadows | $1,122 | N/A |
5 | Greenfields | $1,113 | N/A |
6 | Midtown | $1,064 | 10.29% |
7 | Central Omaha | $1,062 | 18.60% |
8 | Blackstone | $1,056 | -2.93% |
9 | Nebraska Medical Center | $1,056 | -2.93% |
10 | Old Market | $1,026 | -1.08% |
The least expensive Omaha neighborhoods are to the North and the South of the Dodge Street Corridor. Hip yet affordable, Benson Gardens is popular among college students, young professionals and families. The area offers plenty of nightlife and entertainment without the hefty price tag of the downtown area. The average cost for a one-bedroom apartment in Benson Gardens is $710 a month, up 4.2 percent over the previous year.
Another community worth checking out is North Omaha. With its community gardens and historic music venues, this neighborhood is a living resource for Omaha's rich African American history. Attractions include the Malcolm X Memorial Foundation and the Union for Contemporary Art, which support local artists and entrepreneurs of color. While rent is an affordable $600 a month for a one-bedroom apartment, that price has increased by 4.35 percent year-to-year.
Also on the don't-miss list are the neighborhoods of South Omaha. These areas were originally settled by immigrants from Germany, Italy, the Czech Republic, Hungary, Poland, Mexico and Central America.
Dahlman is one of the oldest enclaves in this section of town. There, you can enjoy fresh hand-rolled ravioli at Via Farina or take a stroll at Lauritzen Gardens. The average cost for a one-bedroom apartment in Dahlman is a mere $639.
Finally, for those who prefer quieter neighborhoods with small-town vibes, Prairie Lane is an excellent choice. This affordable area in West Omaha is ideal for families or those who are looking for spacious homes. It also offers plenty of outdoor activities like ice fishing at nearby Zorinksy Lake. The average price of a one-bedroom apartment in Prairie Lane is $724, a 7.13 percent increase over the previous year.
Rank | Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
---|---|---|---|
1 | Peony Park | $579 | 0.72% |
2 | North Omaha | $600 | 4.35% |
3 | Dahlman | $639 | N/A |
4 | Joslyn Castle | $641 | 1.05% |
5 | Benson Gardens | $710 | 4.20% |
6 | North Central Omaha | $724 | 4.37% |
7 | Prairie Lane | $724 | 7.13% |
8 | Elmwood Park | $730 | 0.00% |
9 | Cornish Heights | $747 | 0.86% |
10 | Maple Village | $771 | 6.15% |
Still need to decide which Omaha neighbors suit your lifestyle and budget? Check out the chart below to compare neighborhoods in the Omaha area.
Neighborhood | Average 1-BR Rent Price | YoY Rent Price Change |
---|---|---|
Aksarben - Elmwood Park | $1,283 | 2.29% |
Benson Gardens | $710 | 4.20% |
Blackstone | $1,056 | -2.93% |
Central Omaha | $1,062 | 18.60% |
Columbus Park | $826 | 0.10% |
Cornish Heights | $747 | 0.86% |
Dahlman | $639 | N/A |
Disney | $865 | -10.80% |
Dodge Street Corridor | $1,234 | N/A |
Downtown | $985 | -17.19% |
Elmwood Park | $730 | 0.00% |
Gifford Park | $930 | 0.30% |
Greenfields | $1,113 | N/A |
Hillsborough | $948 | N/A |
Joslyn Castle | $641 | 1.05% |
Leavenworth | $1,191 | 1.99% |
Little Italy | $830 | 0.22% |
Maple Village | $771 | 6.15% |
Market West | $845 | -10.02% |
Midtown | $1,064 | 10.29% |
Montclair Trendwood Parkside and Georgetown | $937 | 8.87% |
Morton Meadows | $1,122 | N/A |
Nebraska Medical Center | $1,056 | -2.93% |
North Central Omaha | $724 | 4.37% |
North Downtown | $887 | -5.78% |
North Omaha | $600 | 4.35% |
Northwest Omaha | $904 | 14.26% |
Old Market | $1,026 | -1.08% |
Park East | $840 | -10.22% |
Peony Park | $579 | 0.72% |
Piedmont Wycliffe | $871 | 4.19% |
Prairie Lane | $724 | 7.13% |
Rambleridge | $883 | 5.75% |
Southeast Omaha | $969 | 1.60% |
West Omaha | $916 | 2.96% |
Westwood Heights | $794 | -3.48% |
Yes, Omaha is in the center of the U.S., but it's far from the middle of the road. With five Fortune 500 companies, juicy steaks, a bustling music scene and modern art galleries, Omaha will convince you “we don't coast" is the only way to live.
Ready to move to the Gateway of the West? Find your perfect neighborhood in Omaha and relax under the prairie sunsets with a flight of Nebraska wines. Once you've decided on the right neighborhood for you, take a look at homes for sale and apartments for rent to find the perfect place for you.