When it comes to investing in real estate, knowledge is power. It’s important to stay informed about what’s happening in your local market so you can make smart decisions about where and when to invest. Omaha’s real estate market has been steadily growing over the past few years and it doesn’t show any signs of slowing down anytime soon. So what do you need to know? Let’s take a look.
Housing Prices on the Rise
Housing prices in Omaha have been steadily rising since 2016. The median home value in the city is currently $158,300, which is up 7.5% from last year alone. This means that if you are looking to purchase a home, now is an especially good time to be doing so. Although prices may continue to rise, they are still relatively low and present a great opportunity for potential homeowners who are looking to invest in Omaha’s real estate market while they can still afford it.
Rent Prices Steady
Although housing prices have gone up over the past few years, rent prices remain fairly steady throughout most areas of the city. According to data collected by RentHop, the average rent for a one-bedroom apartment in Omaha was $859 per month as of May 2019; this figure is down slightly from last year when the average rate was $862 per month. For those who are looking for an affordable rental option, now is a great time to consider making a move!
Trending Neighborhoods
Omaha has experienced tremendous growth over the past few years and certain areas of the city have seen more development than others. The North Downtown area has seen steady growth due its proximity to Midtown Crossing and other popular attractions like TD Ameritrade Park; this neighborhood also boasts some of the most affordable housing options within city limits. Meanwhile, Dundee continues to see new construction developments which attract both young professionals and families alike—making it one of Omaha’s most desirable neighborhoods right now.
Conclusion:
Investing in real estate can be a smart decision but only if you stay informed about what’s happening in your local market. Omaha is no exception—the city has seen steady growth over the past few years with housing prices on the rise and rent prices remaining relatively steady throughout most areas of town. If you want to get ahead of the curve, take some time to explore trending neighborhoods like North Downtown or Dundee where new construction projects are popping up all over town! By staying informed about current trends and taking advantage of available opportunities early on, you can capitalize on all that Omaha has to offer while avoiding potential pitfalls along the way!
