The typical owner-occupied home in Chester is worth about $76,800, 68% below the Nebraska median of $238,600 and 77% below the national median of $332,700. Owners pay a median $900 a year in property taxes, about 1.17% of their home's value, lower than the Nebraska rate of 1.49%. The median household earns $71,875 a year, so the median home costs 1.1 times the median income (3.1 times for Nebraska). 78% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Chester at a glance
| Chester | Nebraska | U.S. | |
|---|---|---|---|
| Median home value | $76,800 | $238,600 | $332,700 |
| Median property tax paid per year | $900 | $3,549 | $3,119 |
| Property tax as a share of value | 1.17% | 1.49% | 0.94% |
| Median household income | $71,875 | $76,475 | $80,734 |
| Homes lived in by their owners | 78% | 67% | 65% |
| Owner homes with a mortgage | 32% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $817 | $1,736 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 19.5% | 21.0% |
| Median rent | $843 | $1,072 | $1,413 |
| Rent as a share of renters' income | 13.8% | 27.9% | 30.6% |
| Median year homes were built | 1938 | 1975 | 1980 |
| Vacant homes | 20.8% | 7.6% | 10.1% |
| Population | 240 | 1,978,707 | 334,922,499 |
What a typical home costs per month in Chester
At this week's average 30-year rate of 7.11%, buying the median Chester home of $76,800 with 20% down costs about $520 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $648, 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 $22,294 for the 20%-down payment. That payment is 9% of the median Chester household income of $71,875; at that income and 20% down, the 28% guideline points to a home of about $248,000.
The median rent here is $843 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $15,360 |
|---|---|
| Loan amount | $61,440 |
| Principal and interest | $413 |
| Property taxes (1.17% a year) | $75 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| PMI | $0 |
| Total per month | $520 |
Change the numbers in the calculator
| Down payment | $2,688 |
|---|---|
| Loan amount | $75,409 |
| Principal and interest | $507 |
| Property taxes (1.17% a year) | $75 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| FHA mortgage insurance | $34 |
| Total per month | $648 |
Change the numbers in the calculator
Questions about home buying in Chester
What is the median home value in Chester?
About $76,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Chester?
Homeowners pay a median $900 a year, which is about 1.17% 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 Chester?
For the median home with 20% down at 7.11%, the payment is about $520 a month. Keeping that under 28% of gross income takes about $22,294 a year.
More about Chester
- Mortgage Refinance in Chester
- Debt Relief in Chester
- Home Equity Loans in Chester
- 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