CALCMONEY // HOME AFFORDABILITY // NE // KEARNEY
How much house can you afford in Kearney? Based on local median home prices, current NE mortgage rates, and Kearney property tax data.
$210,000
$1,483/mo
$63,560/yr
$194,313
Monthly housing costs of $1,483 represent 29.7% of Kearney's median gross monthly income ($5,000/mo). At 29.7%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $210,000 |
| Down Payment (20%) | $42,000 |
| Loan Amount | $168,000 |
| Monthly PI Payment | $1,112 |
| Monthly Property Tax | $284 |
| Monthly Insurance Est. | $88 |
| Total Monthly PITI | $1,483 |
| Housing Cost % of Income | 29.7% |
| Required Income (28% rule) | $63,560/yr |
| Max Affordable Home | $194,313 |
$7,350
$1,856/mo
Kearney Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $210,000 | Kearney city median |
| Down Payment (20%) | $42,000 | Conventional loan |
| Monthly PITI | $1,483 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $63,560 | Annual gross |
| Max Affordable Home | $194,313 | Based on median income |
| FHA Down (3.5%) | $7,350 | Minimum FHA |
| Housing Cost % of Income | 29.7% | Median income: $60,000/yr |
| Property Tax Rate | 1.62% | $3,402/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Kearney is $210,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $168,000, generating a monthly P&I payment of $1,112. Adding property taxes ($284/mo) and homeowners insurance ($88/mo) brings total monthly PITI to $1,483.
Kearney's property tax rate of 1.62% is near the national average, adding a standard increment to monthly housing costs. On the Kearney median home, that is $284/month, or $3,402 per year.
Nebraska levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Kearney should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Kearney's median income of $60,000/year can afford up to $1,400/month in total housing costs. Based on Kearney's mortgage rate of 6.95% and property tax rate of 1.62%, that translates to a maximum affordable home price of approximately $194,313 with 20% down on a 30-year loan.
To afford the median Kearney home priced at $210,000, you need an annual gross income of approximately $63,560. Total monthly housing costs (principal and interest of $1,112, property taxes of $284, and insurance of $88) come to $1,483/month, which equals 28% of the required income.
At the median home price of $210,000 and median household income of $60,000, the total monthly housing cost of $1,483 represents 29.7% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Kearney home of $210,000 is $42,000. An FHA loan requires just 3.5% down — $7,350 — but adds mortgage insurance of roughly $144/month, bringing total FHA payments to $1,856/month.
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