The typical owner-occupied home in Stratton is worth about $54,100, 77% below the Nebraska median of $238,600 and 84% below the national median of $332,700. Owners pay a median $689 a year in property taxes, about 1.27% of their home's value, lower than the Nebraska rate of 1.49%. The median household earns $34,643 a year, so the median home costs 1.6 times the median income (3.1 times for Nebraska). 82% of occupied homes here are lived in by their owners, and 22% of those owners still have a mortgage.
Stratton at a glance
| Stratton | Nebraska | U.S. | |
|---|---|---|---|
| Median home value | $54,100 | $238,600 | $332,700 |
| Median property tax paid per year | $689 | $3,549 | $3,119 |
| Property tax as a share of value | 1.27% | 1.49% | 0.94% |
| Median household income | $34,643 | $76,475 | $80,734 |
| Homes lived in by their owners | 82% | 67% | 65% |
| Owner homes with a mortgage | 22% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $963 | $1,736 | $1,963 |
| Those costs as a share of the owners' income | 36.3% | 19.5% | 21.0% |
| Median rent | $750 | $1,072 | $1,413 |
| Rent as a share of renters' income | 22.5% | 27.9% | 30.6% |
| Median year homes were built | 1942 | 1975 | 1980 |
| Vacant homes | 19.4% | 7.6% | 10.1% |
| Population | 342 | 1,978,707 | 334,922,499 |
What a typical home costs per month in Stratton
At this week's average 30-year rate of 7.11%, buying the median Stratton home of $54,100 with 20% down costs about $371 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $461, 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 $15,898 for the 20%-down payment. That payment is 13% of the median Stratton household income of $34,643; at that income and 20% down, the 28% guideline points to a home of about $118,000.
The median rent here is $750 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $10,820 |
|---|---|
| Loan amount | $43,280 |
| Principal and interest | $291 |
| Property taxes (1.27% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $23 |
| PMI | $0 |
| Total per month | $371 |
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| Down payment | $1,894 |
|---|---|
| Loan amount | $53,120 |
| Principal and interest | $357 |
| Property taxes (1.27% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $23 |
| FHA mortgage insurance | $24 |
| Total per month | $461 |
Change the numbers in the calculator
Questions about home buying in Stratton
What is the median home value in Stratton?
About $54,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Stratton?
Homeowners pay a median $689 a year, which is about 1.27% 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 Stratton?
For the median home with 20% down at 7.11%, the payment is about $371 a month. Keeping that under 28% of gross income takes about $15,898 a year.
More about Stratton
- Mortgage Refinance in Stratton
- Debt Relief in Stratton
- Home Equity Loans in Stratton
- 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