Omaha is a large city located along the far eastern border in the state of Nebraska. Omaha has a population of around 445,000 people, which makes it the largest city in the state. The city is also part of a larger metro area that has over 700,000 people and includes communities in both Nebraska and Iowa. Omaha is often considered one of the fastest growing communities in the United States. The city has seen a lot of revitalization over the past few years and has continued to provide citizens with a strong job market, affordable housing prices, and plenty of options for entertainment.
Mortgage Loans in Omaha
Those that are looking to buy a home in Omaha will likely need to take out a mortgage. When looking for mortgage loans in Omaha, NE, borrowers will have a lot of different options to choose from. Omaha is the home of many large banks, including Wells Fargo, Chase Bank, and Bank of America. It is also served by several regional banks including Bank of the West and First Bank of Omaha. Those that are well-qualified will be able to obtain very attractive interest rates on a variety of loan programs including FHA loans, VA loans, and convectional mortgages.
Home Affordability in Omaha
Compared to a lot of other large cities in the United States, Omaha has very high home affordability. Omaha has a strong median household income of around $51,000, which is around the state and national average. Omaha also has an unemployment rate of around 2.7%, which is in line with the state average, but below the national average of 4.6%. Omaha’s income tends to vary a bit from one area of the city to the next. Income is the highest near the downtown Old Market, which is the home of a lot of new condos and loft conversions. Incomes are also high near the western edge of the city, which is the home to a lot of new developments.
The current median income in Omaha compared favorably to the median home sales price. In 2015, the median home sales price in Omaha was only around $150,000. However, sales prices tend to vary a lot based on the exact location with many areas of the city reporting median sales prices in excess of $400,000.
Public Education in Omaha
The public education system in Omaha is run by the Omaha Public School system. This school system has around 50,000 students in it enrollment, which attend one of nearly 75 different public schools. The school system overall has average ratings and reviews. Some of the negatives of the school system include the high teacher to student ratio of 16 to 1 and the low funding per pupil of $7,500.
While public education is not great, the city does have a lot of private schools to choose from. Omaha is the home of nearly two dozen private and specialty education schools, which are located all over the city. Omaha also has a lot of colleges and universities, including Creighton University and the University of Nebraska at Omaha.
Omaha Crime Statistics
Overall, Omaha reports low crime statistics compared to other big cities in the United States. The city does have some issues with theft and vandalism, but violent crime statistics are fairly low. The city has had a murder rate of under 10 per 100,000 people every year, which is low compared to most other cities of its size.