Over the last few years, we have seen major changes in the real estate market across the United States. There have been many contributing factors to these shifts in buying and selling trends, such as homeowners relocating to other states, changing interest rates, and fluctuating local economies.

While some areas of the United States are experiencing economic hardship, there are several regions that have remained surprisingly stable or have grown significantly in recent years. One such area is Omaha, Nebraska.

Omaha Real Estate Facts and Figures

The Omaha real estate market has seen a steady increase in property value over the past 5 years, with average selling prices going from a little over $150k in 2018 to jumping over the $250k mark by mid 2023 at the time this article was being written.

With an average median price per square foot hovering just over $150, the Omaha real estate market draws in buyers from every walks of life, which is demonstrated by Omaha’s diverse demographics.

Omaha has also seen a steady rise in population over the past 70 years, with increases staying between one and two percent. This is well above the national average (.4%), as reported by the US Census Bureau. Omaha’s ability to sustain its population while also attracting new residents showcases its allure as a place to work, live, and invest in real estate.

Factors Contributing to Omaha Real Estate Market Stability

There are several reasons why Omaha residents are able to enjoy such a steadfast real estate market, so let’s take a look at what makes the Gateway to the West such an attractive place to acquire property for homebuyers and real estate investors.

Diversified and Stable Economy

The first and most important factor is Omaha’s highly diversified economy. Omaha is home to the headquarters of several major corporations from a variety of industries, such as finance, insurance, transportation, construction, and healthcare. This variegated mixture of economic staples serves as an excellent form of insulation against major downturns and uncertainty, which provides a stable environment for investors interested in the Omaha real estate market.

In addition to its balanced economy, Omaha also offers a much lower cost of living when compared to other notable metropolitan regions across the United States. These savings can be seen in almost every aspect of everyday costs, including both essential and non-essential spending, and the Omaha real estate market is no exception to this.

Omaha offers a wide variety of housing options for homeowners of every demographic, ranging from affordable studio apartments to expansive upscale mansions. This means that there is something for everyone in Omaha, from renters and first time home buyers to wealthy professionals who are looking to upgrade their home to a luxurious piece of property.

Developing Infrastructure

Another key component contributing to the promising Omaha real estate market is the city’s commitment to developing and improving its infrastructure. Omaha has made considerable investments toward improving its transportation framework, including interstates, roads, and public transit systems. These improvements allow commuters and drivers to access their places of employment, as well as basic amenities without congesting the city’s roadways, leading to increased quality of life and a more peaceful environment throughout the city.

In addition to improving its public transportation and roads system, Omaha has also dedicated substantial resources to developing new residential and commercial construction projects to add to its existing real estate investment opportunities. In recent years, the city has been continuously building new office buildings, housing developments, and retail centers to meet the diverse needs of its growing population.

The city’s commitment to constant improvement increases the value of the already strong Omaha real estate market, attracting new and plentiful real estate investors and inhabitants alike.

Real Estate Investment

Because Omaha has consistently experienced growth in both population and property values, it has become an attractive center for investors to enhance their portfolios with appreciating assets.

Abundant investment opportunities are available in both commercial and residential sectors throughout the Omaha real estate market, largely due to the city’s diverse demographics, which supports a wide variety of business opportunities.

In addition to the high demand for upscale housing, there is also a strong need for abundant rental properties in the Omaha real estate market also. This presents excellent investment opportunities for developers to build a wide range of housing options and create steady streams of revenue for years to come.

Conclusion

In conclusion, the Omaha real estate market is a sound location for investing in properties, whether in the form of single family homes, major rental developments, or commercial properties to support the city’s growing economy.

Based on trends from recent years, Omaha’s population is projected to continue growing at a steady rate that will sustain its expanding economy. As a result, the Omaha real estate market is likely to continue its growth at a similar pace in keeping with the increasing demand for affordable and luxury housing.

Additionally, Omaha has shown its dedication to improving the lives of residents by improving its infrastructure and working with developers to provide sufficient housing and amenities, making this city an attractive destination for homebuyers and investors.

Milford Real Estate

For those who want to break into the growing Omaha real estate market, Milford Real Estate is here to help.

Milford Real Estate is a locally owned real estate firm that specializes in working with sophisticated clientele who wish to acquire upscale housing throughout the Omaha region. In addition to Nebraska, we are also licensed to work in Iowa, for those who are considering property in Council Bluffs and the surrounding areas.

If you would like to find out more about housing opportunities in Omaha, Nebraska, take some time to look at the resources available on our website. Also, if you are ready to get your home buying experience started, you can give us a call, send us an email, or fill out a short form on our website to have one of our representatives reach out to you and answer any questions you may have. Click here for more information!