The typical owner-occupied home in Valparaiso is worth about $230,400, 3% below the Nebraska median of $238,600 and 31% below the national median of $332,700. Owners pay a median $2,637 a year in property taxes, about 1.14% of their home's value, lower than the Nebraska rate of 1.49%. The median household earns $85,625 a year, so the median home costs 2.7 times the median income (3.1 times for Nebraska). 84% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Valparaiso at a glance
| Valparaiso | Nebraska | U.S. | |
|---|---|---|---|
| Median home value | $230,400 | $238,600 | $332,700 |
| Median property tax paid per year | $2,637 | $3,549 | $3,119 |
| Property tax as a share of value | 1.14% | 1.49% | 0.94% |
| Median household income | $85,625 | $76,475 | $80,734 |
| Homes lived in by their owners | 84% | 67% | 65% |
| Owner homes with a mortgage | 55% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,581 | $1,736 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 19.5% | 21.0% |
| Median rent | $931 | $1,072 | $1,413 |
| Rent as a share of renters' income | 21.6% | 27.9% | 30.6% |
| Median year homes were built | 1972 | 1975 | 1980 |
| Vacant homes | 9.3% | 7.6% | 10.1% |
| Population | 524 | 1,978,707 | 334,922,499 |
What a typical home costs per month in Valparaiso
At this week's average 30-year rate of 7.11%, buying the median Valparaiso home of $230,400 with 20% down costs about $1,555 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,939, 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 $66,635 for the 20%-down payment. That payment is 22% of the median Valparaiso household income of $85,625; at that income and 20% down, the 28% guideline points to a home of about $296,000.
The median rent here is $931 a month, so owning the median home costs about $624 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,080 |
|---|---|
| Loan amount | $184,320 |
| Principal and interest | $1,240 |
| Property taxes (1.14% a year) | $219 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| PMI | $0 |
| Total per month | $1,555 |
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| Down payment | $8,064 |
|---|---|
| Loan amount | $226,227 |
| Principal and interest | $1,522 |
| Property taxes (1.14% a year) | $219 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| FHA mortgage insurance | $102 |
| Total per month | $1,939 |
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Questions about home buying in Valparaiso
What is the median home value in Valparaiso?
About $230,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Valparaiso?
Homeowners pay a median $2,637 a year, which is about 1.14% 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 Valparaiso?
For the median home with 20% down at 7.11%, the payment is about $1,555 a month. Keeping that under 28% of gross income takes about $66,635 a year.
More about Valparaiso
- Mortgage Refinance in Valparaiso
- Debt Relief in Valparaiso
- Home Equity Loans in Valparaiso
- 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