Nebraska’s most affordable neighborhoods show remarkable geographic concentration and steady appreciation patterns, according to Zillow Home Value Index data tracking neighborhood values through November 2024. All ten least expensive neighborhoods are located in North Omaha, forming a tight cluster between downtown and Ames Avenue, with values ranging from Central Park at $117,437 to Wakonda at $139,994.
The price variation among these neighborhoods is notably compressed, with just $22,557 separating the highest and lowest values, and all areas showing consistent 5% appreciation from 2023 to 2024. This pattern of steady, uniform growth suggests increasing market stability in traditionally affordable areas, while the neighborhoods’ strategic locations near major institutions and commercial corridors – particularly the historic 24th Street and 30th Street business districts – provide important amenities despite their accessible price points.
Most notably, several neighborhoods benefit from proximity to anchor institutions, with The Fort Omaha adjacent to Metropolitan Community College’s main campus, Fontenelle View bordering the expansive Fontenelle Park, and Levi Carter Sherman offering access to both Carter Lake and Levi Carter Park, demonstrating that affordable pricing doesn’t preclude access to significant community amenities.
1. Wakonda (Omaha)
Property values increased from $133,328 in 2023 to $139,994 in November 2024, showing a moderate 5% growth. The neighborhood maintains the highest values among Omaha’s most affordable areas while demonstrating steady market stability.
Where is Wakonda?
Located in North Omaha between 40th and 42nd Streets, south of Ames Avenue, Wakonda sits approximately 5 miles north of downtown. The neighborhood borders the Omaha Home for Boys campus and provides easy access to both Fontenelle Boulevard and Ames Avenue commercial corridors.
2. Orchard Hill (Omaha)
Home values rose from $130,913 in 2023 to $137,459 in November 2024, representing a 5% annual increase. This consistent appreciation rate indicates steady market conditions in this established North Omaha neighborhood.
Where is Orchard Hill?
Situated between 33rd and 36th Streets, north of Ames Avenue, Orchard Hill stands approximately 4.5 miles north of downtown Omaha. The area benefits from its proximity to Metro Community College’s Fort Omaha campus and the North Omaha Transit Center.
3. Fontenelle View (Omaha)
Values increased from $127,973 in 2023 to $134,371 in November 2024, marking a 5% appreciation. The neighborhood maintains steady growth while offering some of North Omaha’s more affordable housing options.
Where is Fontenelle View?
Positioned along Fontenelle Boulevard between Ames Avenue and Maple Street, the neighborhood sits about 5 miles northwest of downtown. It borders Fontenelle Park to the west and offers direct access to the North Omaha business district.
4. Prospect Village (Omaha)
The area saw growth from $125,115 in 2023 to $131,371 in November 2024, demonstrating a 5% increase. This appreciation rate aligns with broader patterns in North Omaha’s affordable neighborhoods.
Where is Prospect Village?
Located between 30th and 33rd Streets, just north of Lake Street, Prospect Village lies approximately 3.5 miles north of downtown Omaha. The neighborhood sits within walking distance of the 30th Street commercial corridor and North Omaha’s historic business district.
5. Laird Street (Omaha)
Property values climbed from $123,515 in 2023 to $129,691 in November 2024, showing a 5% gain. The neighborhood maintains consistent appreciation while offering accessible entry points to homeownership.
Where is Laird Street?
Situated between 24th and 30th Streets, north of Lake Street, Laird Street neighborhood is positioned about 3 miles north of downtown. The area provides easy access to both North 24th and North 30th Street business corridors.
6. Triple One (Omaha)
Values rose from $119,870 in 2023 to $125,864 in November 2024, reflecting a 5% increase. The neighborhood shows steady appreciation despite maintaining some of the area’s most affordable price points.
Where is Triple One?
Located roughly between 16th and 24th Streets, north of Lake Street, Triple One sits approximately 2.5 miles north of downtown Omaha. The neighborhood provides direct access to historic North 24th Street and lies near several major transportation routes.
7. Levi Carter Sherman (Omaha)
The neighborhood experienced growth from $118,790 in 2023 to $124,726 in November 2024, marking a 5% appreciation. This steady increase suggests improving market stability in one of North Omaha’s most affordable areas.
Where is Levi Carter Sherman?
Positioned between Florence Boulevard and 16th Street, north of Ames Avenue, this neighborhood lies about 4 miles northeast of downtown. It offers proximity to Levi Carter Park and Carter Lake, providing recreational amenities unusual for this price point.
8. The Fort Omaha (Omaha)
Home values increased from $116,819 in 2023 to $122,654 in November 2024, showing 5% growth. The neighborhood maintains steady appreciation while offering some of the area’s most accessible price points.
Where is The Fort Omaha?
Centered around the historic Fort Omaha campus between 30th and 33rd Streets, south of Ames Avenue, this neighborhood sits about 4 miles north of downtown. The area benefits significantly from its proximity to Metropolitan Community College’s main campus and its extensive grounds.
9. North Omaha (Omaha)
Values grew from $116,316 in 2023 to $122,132 in November 2024, representing a 5% increase. This consistent appreciation indicates stabilizing market conditions in one of the city’s most affordable core neighborhoods.
Where is North Omaha?
Located between 24th and 30th Streets, spanning several blocks north of Lake Street, this core neighborhood lies about 3.5 miles north of downtown. The area serves as a central hub within North Omaha, offering easy access to major commercial corridors and community institutions.
10. Central Park (Omaha)
Property values increased from $111,845 in 2023 to $117,437 in November 2024, showing 5% appreciation. Despite maintaining the most accessible price points among all Omaha neighborhoods, the area demonstrates consistent market stability.
Where is Central Park?
Situated between 42nd and 48th Streets, north of Ames Avenue, Central Park lies approximately 5.5 miles north of downtown Omaha. The neighborhood borders the expansive Omaha Central Park Mall area and provides convenient access to both Fontenelle Boulevard and Ames Avenue commercial districts.
