Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Colorado and Nebraska. Updated for 2026.
Nebraska wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $245K and lower overall costs, Nebraska offers meaningful savings compared to Colorado. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Nebraska saves you approximately $1,569/month ($18,828/year) compared to Colorado, based on median home prices with identical loan terms.
There's a dramatic price gap between these two states. Homes in Nebraska cost 53% less than in Colorado — that's a difference of $275K on the median home. For buyers relocating from Colorado to Nebraska, this can mean upgrading significantly or pocketing substantial savings. The equity you've built in a Colorado home could fund a much larger down payment in Nebraska, potentially eliminating PMI and reducing your monthly payment dramatically.
Property taxes are dramatically different: Colorado charges 0.51% while Nebraska charges 1.73%, a gap of 1.22 percentage points. On the respective median homes, this means Nebraska homeowners pay roughly $4,239 per year in property taxes versus $2,652 in Colorado. Over 30 years of homeownership, this difference alone can add up to six figures. Retirees on fixed incomes should weigh this heavily.
Closing costs are a one-time but significant expense. Colorado averages $7K in closing costs (1.4% of purchase price) while Nebraska averages $3K (1.3%). The difference is spread across title insurance, attorney fees, and recording costs rather than a single large tax. Budget for these upfront costs — they affect how much cash you need on hand at closing.
Both states offer down payment assistance for first-time buyers. Colorado's CHFA Down Payment Assistance provides Up to $25,000 second mortgage, while Nebraska's NIFA Homebuyer Assistance offers Up to 5% DPA. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: Nebraska homes cost $275K less than Colorado on average. That translates to roughly $1,569 less per month in total housing costs if you choose Nebraska. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.