Mortgage Calculator & Closing Costs: Papillion, NE
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Papillion, Nebraska.
Median Home Price
$315K
Population
24K
Avg Monthly Rent
$1,280
Property Tax Rate
1.73% *
* Property tax shown is the Nebraska state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Papillion.
Papillion vs Nebraska Median
The median home price in Papillion is $315,000, which is 29% above the Nebraska state median of $245,000.
Mortgage Calculator — Papillion, NE
Pre-filled with Papillion median home price and Nebraska tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $315K home using Nebraska's 1.73% tax rate and $2,800/yr insurance.
5% Down
$2,753/mo
Down: $15,750
Loan: $299K
P&I: $1,891
Tax: $454
Insurance: $233
PMI: $175
10% Down
$2,645/mo
Down: $31,500
Loan: $284K
P&I: $1,792
Tax: $454
Insurance: $233
PMI: $165
20% Down (No PMI)
$2,280/mo
Down: $63,000
Loan: $252K
P&I: $1,593
Tax: $454
Insurance: $233
Income needed (28% rule): $98K/year with 20% down, $113K/year with 10% down.
Rent vs Buy in Papillion
Rent
$1,280/mo
vs
Buy (10% down)
$2,645/mo
Price-to-rent ratio: 20.5 — At a ratio above 20, renting may be more economical in Papillion for shorter stays. Buying costs $1,365 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Papillion is $315,000, 29% above the Nebraska state median of $245,000. With a population of 24,310, Papillion is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Nebraska average 1.73% annually. This higher-than-average tax rate means a $315,000 home in Papillion would carry roughly $454/month in property taxes alone — plan accordingly. Homeowners insurance in Nebraska runs approximately $2,800 per year. This is within the normal range nationally.
Average rent in Papillion is $1,280/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Papillion presents moderate affordability. The $315K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Papillion.