The typical owner-occupied home in Big Springs is worth about $96,200, 60% below the Nebraska median of $238,600 and 71% below the national median of $332,700. Owners pay a median $1,288 a year in property taxes, about 1.34% of their home's value, lower than the Nebraska rate of 1.49%. The median household earns $68,125 a year, so the median home costs 1.4 times the median income (3.1 times for Nebraska). 84% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Big Springs at a glance
| Big Springs | Nebraska | U.S. | |
|---|---|---|---|
| Median home value | $96,200 | $238,600 | $332,700 |
| Median property tax paid per year | $1,288 | $3,549 | $3,119 |
| Property tax as a share of value | 1.34% | 1.49% | 0.94% |
| Median household income | $68,125 | $76,475 | $80,734 |
| Homes lived in by their owners | 84% | 67% | 65% |
| Owner homes with a mortgage | 32% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,300 | $1,736 | $1,963 |
| Those costs as a share of the owners' income | 17.3% | 19.5% | 21.0% |
| Median rent | $775 | $1,072 | $1,413 |
| Rent as a share of renters' income | 12.5% | 27.9% | 30.6% |
| Median year homes were built | 1944 | 1975 | 1980 |
| Vacant homes | 16.6% | 7.6% | 10.1% |
| Population | 496 | 1,978,707 | 334,922,499 |
What a typical home costs per month in Big Springs
At this week's average 30-year rate of 7.11%, buying the median Big Springs home of $96,200 with 20% down costs about $665 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $825, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $28,509 for the 20%-down payment. That payment is 12% of the median Big Springs household income of $68,125; at that income and 20% down, the 28% guideline points to a home of about $230,000.
The median rent here is $775 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $19,240 |
|---|---|
| Loan amount | $76,960 |
| Principal and interest | $518 |
| Property taxes (1.34% a year) | $107 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $665 |
Change the numbers in the calculator
| Down payment | $3,367 |
|---|---|
| Loan amount | $94,458 |
| Principal and interest | $635 |
| Property taxes (1.34% a year) | $107 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $43 |
| Total per month | $825 |
Change the numbers in the calculator
Questions about home buying in Big Springs
What is the median home value in Big Springs?
About $96,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Big Springs?
Homeowners pay a median $1,288 a year, which is about 1.34% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Big Springs?
For the median home with 20% down at 7.11%, the payment is about $665 a month. Keeping that under 28% of gross income takes about $28,509 a year.
More about Big Springs
- Mortgage Refinance in Big Springs
- Debt Relief in Big Springs
- Home Equity Loans in Big Springs
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data