Nebraska · 158th largest metro area

Buying a home in Lincoln, Nebraska

In Lincoln, the median value of owner-occupied homes is $264,000, Lancaster County's effective property tax rate is 1.53%, a purchase mortgage carried a median $2,998 in total loan costs in 2025, and median gross rent is $1,086 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Lincoln home costs, fact by fact

About Lincoln

Lincoln lies in the Lincoln metro area, ranked 158th nationally, and has 300,619 residents. Median gross rent is $1,086 per month, and HUD's Fair Market Rent for a two-bedroom in Lancaster County is $1,230.

Calculate for Nebraska

If you buy

Nebraska state transfer tax

Documentary stamp tax (Neb. Rev. Stat. 76-901): $3.32 per $1,000 of value, or fraction of $1,000 (July 18, 2026 to December 31, 2031); $2.32 from January 1, 2032. Change the price: the amount is recalculated instantly.

Price$279,200
State transfer tax$929.60
Share of the price0.33% of the price
Who paysThe seller

Default price: the Nebraska median value of owner-occupied homes, $279,200 (Census ACS 2025). Rule: Divide the consideration by $1,000, round up to the next whole unit, multiply by $3.32. Value includes any lien the buyer assumes; for a gift it is current market value. Earlier rates were $2.25 (to September 2, 2025) and $2.32 (September 3, 2025 to July 17, 2026). Who pays: The statute imposes the tax on the grantor executing the deed, the seller in an ordinary sale; a contract can allocate the cost differently. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. Nebraska transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Nebraska state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Sectors of Lincoln

Lincoln is divided into the ten most populous of 44 active neighborhood associations, one open spot per trade in each.

Source: City of Lincoln GIS, Urban Development, Neighborhood Associations. Population per area is a Payotte estimate: the sum of Census ACS 2020-2024 populations (table B01003) of the 2020 census tracts whose internal point lies inside each official boundary. These areas do not cover the whole city.

Questions about buying a home in Lincoln

How much is property tax in Lincoln?

Homeowners in Lancaster County pay a median $4,204 a year in property tax, 1.53% of the county median home value of $275,200 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Lincoln?

Home-purchase mortgages in Lancaster County carried median total loan costs of $2,998 in 2025; half of the 3,139 loans fell between $2,506 and $4,971 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Lincoln?

Nebraska charges a documentary stamp tax of $3.32 for each $1,000 of value, or fraction, on deeds for transfers from July 18, 2026, which is $996 on a $300,000 sale. The statute puts it on the grantor, the seller, and the rate falls to $2.32 on January 1, 2032.

Is it cheaper to rent or buy in Lincoln?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Lincoln ($264,000) equals 20.3 years of the median gross rent ($1,086 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Nebraska rules that apply in Lincoln

Other large cities in Nebraska

  • Omaha (main city of Nebraska on Payotte)

Who licenses each trade in Nebraska · All covered cities

Sources

Nebraska · All states · Federal guides