Current Avg. Rates: 6.46% 30-yr fixed|5.77% 15-yr fixed
Source: Freddie Mac Primary Mortgage Market Survey
Source: Freddie Mac Primary Mortgage Market Survey
Omaha vs Des Moines: Mortgage Cost Comparison
Thinking about buying in Omaha or Des Moines? Here's a side-by-side comparison of mortgage costs in both cities.
$1,888
Omaha PITI
$1,604
Des Moines PITI
$284/mo
Difference
Your Monthly Payment (PITI)
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Principal + Interest + Tax + Insurance
Monthly Breakdown
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Property Tax
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Insurance
Loan Overview
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Total Interest
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Payoff Date
Bi-Weekly Option
? Pay half your monthly payment every two weeks — you'll make 26 half-payments (13 full payments) per year instead of 12
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Bi-Weekly Payment
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Total Interest
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Payoff Date
Omaha vs Des Moines: Full Mortgage Comparison
Buying a home in Des Moines is $284/month cheaper based on average home prices and local costs.
| Omaha, NE | Des Moines, IA | |
|---|---|---|
| Avg. Home Price | $260,000 | $230,000 |
| Down Payment (20%) | $52,000 | $46,000 |
| Loan Amount | $208,000 | $184,000 |
| Property Tax Rate | 1.8% | 1.65% |
| Annual Property Tax | $4,680 | $3,795 |
| Annual Insurance | $2,200 | $1,500 |
| Monthly P&I | $1,315 | $1,163 |
| Monthly PITI | $1,888 | $1,604 |
| Total Interest (30yr) | $265,293 | $234,682 |
What Drives the Difference?
Home prices are the biggest factor — Omaha’s average home costs $30,000 more than Des Moines’s.
Property taxes also favor Des Moines — Omaha’s 1.8% rate is higher than Des Moines’s 1.65%.
Insurance is $700/year more in Omaha.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Omaha | Des Moines | |
|---|---|---|
| Monthly PITI | $1,888 | $1,604 |
| Income needed | $80,916 | $68,754 |
Try Your Own Numbers
The calculator above is pre-filled with Omaha’s averages. Adjust the values to match your situation, or try the Des Moines calculator for Des Moines-specific numbers.