True Cost of Renting in Omaha
Omaha is home to four Fortune 500 companies (Berkshire Hathaway, Union Pacific, Kiewit, Mutual of Omaha), the Old Market district — one of the Midwest's finest brick-paved restaurant and art corridors — and OPPD electric rates among the lowest in the nation. The city has been quietly building a tech startup ecosystem and attracting remote workers priced out of coastal markets.
Neighborhoods & Average Rents
Old Market
- Studio:
- $900/mo
- 1 Bed:
- $1,150/mo
- 2 Bed:
- $1,600/mo
Omaha's historic warehouse district; brick streets, iron-lace architecture, nationally recognized restaurants, and galleries. OPPD electric (among the lowest electric rates in the US). Street parking competitive on weekends. Most walkable neighborhood in Omaha. Premium for the Old Market lifestyle.
Midtown Crossing
- Studio:
- $900/mo
- 1 Bed:
- $1,100/mo
- 2 Bed:
- $1,600/mo
Mixed-use development 2 miles west of Downtown; Turner Park, luxury apartment complexes, and Whole Foods anchor. Strong walkability for Omaha. ORBT rapid transit access. Warren Buffett's office (Kiewit Plaza) is 10 minutes by car.
Dundee / Happy Hollow
- Studio:
- $750/mo
- 1 Bed:
- $1,000/mo
- 2 Bed:
- $1,400/mo
Established residential neighborhoods north of Midtown; craftsman-era apartments and single-family rentals. Dundee's Underwood Avenue has independent restaurants and shops. Strong community identity. Some of Omaha's best-maintained rental housing stock.
Aksarben / Children's Hospital Area
- Studio:
- $850/mo
- 1 Bed:
- $1,100/mo
- 2 Bed:
- $1,500/mo
Former horse racing track redeveloped into a major mixed-use district; Children's Hospital, TD Ameritrade (now Schwab), and Mutual of Omaha nearby. Strong employment anchor. New construction apartments. University of Nebraska-Omaha adjacency.
West Omaha / Elkhorn
- 1 Bed:
- $1,100/mo
- 2 Bed:
- $1,600/mo
Omaha's fastest-growing suburban corridor; new construction apartment complexes near US-275 and I-680. Westroads Mall and Dodge Street corridor employment. Car-dependent but top-rated Douglas County school districts. Strong corporate and healthcare employment corridor.
Utility Providers
- Electric
- Omaha Public Power District (OPPD)
- Water
- Metropolitan Utilities District (MUD)
- Internet
- CenturyLink/Quantum Fiber, Cox Communications, Allo Communications
Commute & Transportation
Omaha's highway system centers on I-80 (the US transcontinental highway), I-480 (downtown loop), and I-680 (northwest belt). Eppley Airfield (OMA) is 3 miles northeast of Downtown. No light rail; Metro Transit provides bus service with the ORBT (Omaha Rapid Bus Transit) on Dodge Street being the most frequent route. Major employers: Berkshire Hathaway (HQ; Warren Buffett works at Kiewit Plaza), Union Pacific Railroad (HQ), Kiewit Corporation (HQ), Mutual of Omaha (HQ), Boys Town National Research Hospital, UNMC (University of Nebraska Medical Center), and a growing financial services sector including TD Ameritrade (Schwab).
Rental Market Overview
Omaha's most distinctive rental market feature is OPPD — the Omaha Public Power District provides some of the lowest electric rates in the nation ($0.08–0.10/kWh), meaning a 1BR electric bill of $50–70/month in summer is realistic. This is a material cost difference versus other Midwest cities. Omaha has four Fortune 500 company headquarters, creating a corporate professional renter base unusual for its population size. The Old Market delivers a genuine urban lifestyle experience at prices far below peer metros. Omaha's rental market has been moderating after strong rent growth in 2021–2023, creating opportunities for renters to negotiate.
Data last updated: 2026-04
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