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The cost of living in Omaha would be low if not for the property taxes and the declining rental vacancy rate which has meant increasing rents.
Omaha is not a bargain, the cost of housing might seem very low but its actually because so much of the city is in decline. Most of East Omaha except near UNO is declining rapidly and has lots of blight with very, very low property valuations. The suburbs of Omaha are the same as any other mid-western city, because of all the available land.
Rents are also higher then you might expect to live in a decent area also. This is because property tax rates are amongst the highest in the nation.
I think Omaha has a property tax rate of 2,170 dollars per 100,000 dollars of home valuation. This is very very high. In fact Omaha property taxes are amongst the highest in the state and the property tax rates are near the top in the nation also.
The main reason for the high levy lots of declining neighborhoods with very low valuations and people tend to have very large families here as Omaha like to tout the fact its a "family-oriented city" so the school levies are extremely high here.
All and all, Omaha if you combine all the expenses if probubly slightly below the national average overall on cost of living. Wages are slightly below the national average also. However, they have many neighborhoods here that are extremely cheap if you dont mind encountering alot of social problems and being surrounded by boarded-up houses and vacant lots.
Wow, that's a very sad and sobering assessment of Omaha. Of course, the last time I was there was over 10 years ago, so I'm sure things have changed quite a bit since then. One thing I did notice at my last visit was that even in the west suburbs, that there were some areas of gang graffiti, and I learned from reading the World-Herald that many of these gang members/taggers were "recruited" by gangbangers from Los Angeles (I live in a Los Angeles suburb).
Sounds like there's a wage disparity with the high property taxes. Someone else also mentioned the high cost of registering new vehicles there.
What a shame. The city's Chamber of Commerce (of course) paints such a rosy picture of the area, and the pictures I've seen of the downtown area look SO nice (check out the ones in Wikipedia under Omaha,Nebraska in the Image Gallery)!
Wow, that's a very sad and sobering assessment of Omaha. Of course, the last time I was there was over 10 years ago, so I'm sure things have changed quite a bit since then. One thing I did notice at my last visit was that even in the west suburbs, that there were some areas of gang graffiti, and I learned from reading the World-Herald that many of these gang members/taggers were "recruited" by gangbangers from Los Angeles (I live in a Los Angeles suburb).
Sounds like there's a wage disparity with the high property taxes. Someone else also mentioned the high cost of registering new vehicles there.
What a shame. The city's Chamber of Commerce (of course) paints such a rosy picture of the area, and the pictures I've seen of the downtown area look SO nice (check out the ones in Wikipedia under Omaha,Nebraska in the Image Gallery)!
I wouldnt say all of Omaha is in decline, its population is growing rapidly especially in the Western areas of town. The amount of devolopment in the suburbs is amazing, in fact the sprawl is incredible for only 850,000 people in the Omaha CMSA. The economy is also very diverse, so the economic situation is slow, steady growth. The unemployment rate is about 3% in Omaha which is much lower then the national average because the city has a very large, diversified business base.
The main problem is a majority of Omaha's older areas seem to be in major decline. Its shocking that the area East of UNMC (42nd and Dodge) and the amount of abandoned buildings and vacant lots, especially in NE and SE Omaha.
Downtown Omaha despite having a large business base seems to close after 5:00pm and all day on weekends. The only people that usually are Downtown after business hours and weekends are those waiting on a bus. I lived around 25th and Poppleton in Omaha about 1 mile from Downtown and the vibracy of Downtown Omaha for a city its size is by far the worst ive seen of any mid-western city.
The Old Market which is just west of Downtown for an entertainment district seems to be mediocre at best. Its more of a stuffy corperate district for businessmen to have business lunches, that also seems to be quite un-vibrant in the evening and on weekends. Some locals have told me the Old Market has just gone more and more down-hill for years.
There have been plans to improve the Downtown area, but it seems to be very, very slow progress and in a very, very limited area and while Downtown improves slowly it seems like conditions in North-East and South-East Omaha continue to get worse and worse.
Omaha's problems are not economic (the economy is good) its more that Omaha has became a very, very sprawled out city that has completely neglected to keep a majority its older neighborhoods desirable at all.
Another thing Omaha is absolutely a buyers market now, wherever you go in Omaha lots of "for sale" signs.
I wouldnt say all of Omaha is in decline, its population is growing rapidly especially in the Western areas of town. The amount of devolopment in the suburbs is amazing, in fact the sprawl is incredible for only 850,000 people in the Omaha CMSA. The economy is also very diverse, so the economic situation is slow, steady growth. The unemployment rate is about 3% in Omaha which is much lower then the national average because the city has a very large, diversified business base.
OK, thanks for clarifying that not everywhere in Omaha is going downhill. That's good to know that the economy over there has managed to stay diversified, thus keeping the unemployment rate low.
Quote:
Originally Posted by MattDen
The main problem is a majority of Omaha's older areas seem to be in major decline. Its shocking that the area East of UNMC (42nd and Dodge) and the amount of abandoned buildings and vacant lots, especially in NE and SE Omaha.
Now that's a shame, because the older neighborhoods have homes that, from an architectural standpoint, are quite unique, as opposed to the western suburbs with their cookie-cutter tract homes.
Quote:
Originally Posted by MattDen
Downtown Omaha despite having a large business base seems to close after 5:00pm and all day on weekends. The only people that usually are Downtown after business hours and weekends are those waiting on a bus. I lived around 25th and Poppleton in Omaha about 1 mile from Downtown and the vibracy of Downtown Omaha for a city its size is by far the worst ive seen of any mid-western city.
That's very interesting. That sounds like downtown Los Angeles. My last visit to Omaha, I drove downtown at night and you're right--it seemed to be totally abandoned, like a ghost town.
Quote:
Originally Posted by MattDen
The Old Market which is just west of Downtown for an entertainment district seems to be mediocre at best. Its more of a stuffy corperate district for businessmen to have business lunches, that also seems to be quite un-vibrant in the evening and on weekends. Some locals have told me the Old Market has just gone more and more down-hill for years.
This is also discouraging to know, since I thought Old Market was rather charming.
Quote:
Originally Posted by MattDen
There have been plans to improve the Downtown area, but it seems to be very, very slow progress and in a very, very limited area and while Downtown improves slowly it seems like conditions in North-East and South-East Omaha continue to get worse and worse.
There has to be some kind of monetary reason why the downtown area is getting improvements (to perhaps attract more businesses?), at the expense of the northeast and southeast areas of the city. Also, I noticed that in Nebraska, that construction seems to proceed at a SLOW pace.
Quote:
Originally Posted by MattDen
Omaha's problems are not economic (the economy is good) its more that Omaha has became a very, very sprawled out city that has completely neglected to keep a majority its older neighborhoods desirable at all.
Urban sprawl seems to be an issue with every growing community in the country. I wonder why there's no interest in keeping the older neighborhoods maintained? Certainly there has to be a group of people who would want to rehabilitate those parts of town?
Quote:
Originally Posted by MattDen
Another thing Omaha is absolutely a buyers market now, wherever you go in Omaha lots of "for sale" signs.
If I sold my house in Southern California right now (it's a buyers' market out here as well), I would in all likelihood be able to pay cash for a house over there in Omaha (average selling price for homes in my neighborhood are in the $500,000 range for a single-story, 3-bedroom, 2-bath home, if you can believe that)!
Since you've been so helpful to me, MattDen, I'm going to give this last post of yours a positive rating!
Alot of the politicians in Omaha like to talk about a back to the river movement. I know the Downtown areas re-devolopment has been most successful East of 13th. I think alot of this because of the very good economy Omaha has and the sprawl that gets worse and worse some people have shown more of an interest as of late to live in Eastern portion of Downtown. I think alot of these warehouses are asbolutely stunning but the culture down there that doesnt add up.
Once you go West of 13th in Omaha it seems to go down-hill fast. Alot of the redevolopment has been largely isolated, confined to only very architecturally significant buildings and has had only modest success at best. Some of the new devolopments on 16th street has had major issues because people arent buying enough of the units.
It seems Downtown basically a vast majority successful redevolopment is in a small area adjacent to the Old Market, its still a mystery to me why the Old Market doesnt seem more busy. Youd think that pedestrian traffic would increase more because of the several warehouse and row-house redevolopments in the area. I guess people in Omaha buy more for architectural significance then culture as opposed to other cities where people buy in Downtowns more for the cultural aspect.
I do think the area from 24th to 42nd and all the way from Harrison to Ames which about a 20+ square mile area (2 miles by 11 miles) is in major need of renovation, its all so depressing. I think Omahans should be embaressed by the fact that such a large swath of the city (25 out of just over 100 square miles) is declining fast with rapidly decreasing property values. This area also provides very few and far between retail to serve its declining resident base.
Most cities it seems like that had that 25% of land area declining until the
1990s, then most cities really started redevolopment the old areas. Not Omaha, they seem to have no problem letting such a large swath of town fall into near-disrepair
Alot of this sprawl is over the aspect that Omaha has all these McDevolopments where a large 4 bedroom house or townhouse can be had for 120 to 150,000 dollars because Omaha has so much available land and there are so many new devolopments going and its a buyers market. In addition, there is alot outrage about the property taxes so people are renting. The middle-class in Omaha has voted with their feet and they have voted for the furthest west of areas. Pretty soon 144th street will be considered East Omaha, Omaha plans to annex and devolop the area out to the Elkhorn river 30 miles from downtown!
Welcome to average midwestern city America. Fortunately, like most of these cities, Omaha is indeed seeing significant revitalization of it's core... and it's spreading WELL outside of downtown (including that 'depressing' area being cited here).
Site preparation is well underway on a massive development between Mutual of Omaha and Turner Park... 600 condominiums and apartments, 200,000 sq feet of leasable space for restaurants, retailers, and entertainment.
dennismpat, i grew up in Glendale, CA so I have the California perspective. Omaha is a city that I have a love-hate relationship with. I visited there a few times, and have some friends who live there. I love the pace of life, the space and the suprisingly good food (although I shouldn't have been so suprised about that, I have never seen so many ginormously huge people in my life). I hate that there are no mountains near-by (trust me you will miss 'em).
I was there in Januray last year and it went down to 6 degrees one morning... that's enough to put most people off. But you know what, with all that it does seem a good place to raise a family, the economy is sound (the world's 2nd richest man lives in Omaha) and some of the best managed companies are based in Omaha. Those guys have been pushing for the very regeneration projects the place needs for years.
It looks from Star__Gazer's images that things are moving ahead... (the Riverfront is also been getting a make-over)
While Omaha will never be a Californian paradise, I have a soft-spot for the place and could see myself living there.
... oh and one other thing, I've been living in London, UK with all the glitz worked in Washington D.C. and yet and I never found a suitable engagement ring for my girlfriend, I walked into one of the malls in Omaha (I think they call it Crossroads) and spoted the winner! (but don't tell her it's from Omaha)
I would tell her. Bill Gates bought his wife's wedding ring here at Borsheim's which is owned by Buffett. That place is for the rich. I've seen small necklaces in there costing over $400,000.
I would tell her. Bill Gates bought his wife's wedding ring here at Borsheim's which is owned by Buffett. That place is for the rich. I've seen small necklaces in there costing over $400,000.
did not know that. interesting... thanks for that info.
Let me tell all of you planning to move to Omaha, RENT. The property taxes here are outrageous. I built a $250,000 house two years ago when I was transferred here, kicking and screaming, and my property taxes are $7000 per year. Once my taxes were assessed on the new house, my mortgage more than doubled.
My question is What kind of a house does 250k get you? i see nice homes for 150k . To me a 250k home must be someting very very nice that you can expect to pay high taxes on. To me it does not seem that bad. Now remember I am somewhere that you pay 3k a year on a 912 sqaure foot house. that house would sell for about 160-180k. a 1200 sqaure foot home on my street just sold for 200k. The house was nice, but still had bathroom fixtures from the 60's and no garage.
$250K got me a 2000 sq ft 3br 2 bath ranch on a postage stamp lot. It is a nice home but no mansion, believe me. If you are paying $3K in taxes on a 912 sq ft home, then $7K for 2000 sq ft should be right in line with where you are, which also sounds very high, but I'll bet you did not have a temperature of minus 2 this morning. Get me outta here........
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The city's Chamber of Commerce (of course) paints such a rosy picture of the area, and the pictures I've seen of the downtown area look SO nice (check out the ones in Wikipedia under Omaha,Nebraska in the Image Gallery)! 
Thanks, MattDen
maybe I will...
