Market Overview
Home Prices in Elmwood, NE
The median home value in Elmwood, NE is $278,926 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.7% compared to a year ago and up 0.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Elmwood are priced32% below average. Elmwood is part of the Omaha-Council Bluffs, NE-IA metro area.
Over the past five years, Elmwood home values have risen by approximately31.6%, reflecting strong long-term appreciation in this market.
Price History
Elmwood Home Price Trend
City Comparison
Elmwood vs. National Median
At $278,926, homes in Elmwood cost 32% below the national median of $410,000. This makes Elmwood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Elmwood?
20% Down Payment
$55,785
on $278,926
Monthly P&I
$1,455/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,848/mo
incl. taxes & insurance
Income Needed
$73,920
gross annual (30% rule)
10% Down Option
$27,893
+ PMI applies
Loan Amount (20% dn)
$223,141
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Elmwood, NE?
The median home value in Elmwood is $278,926 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.7% year-over-year.
How much have home prices changed in Elmwood?
Over the past year, home values in Elmwood have increased by 6.7%. Over five years, prices have risen approximately 31.6%.
How much do I need to earn to buy a home in Elmwood?
To comfortably afford the median home price of $278,926 with a 20% down payment ($55,785) at today's rates (6.8%), you'd need a gross annual income of approximately $73,920. This assumes keeping total housing costs at or below 30% of gross income.
How does Elmwood compare to the national average home price?
The national median home value is approximately $410,000. At $278,926, homes in Elmwood are 32% below the national average.
What metro area is Elmwood part of?
Elmwood is part of the Omaha-Council Bluffs, NE-IA metropolitan area. Home prices and market conditions can vary across the broader metro region.