These days, I've been opening spreadsheets every night, grappling with the same question: "Can my family live well in Omaha?"

I can't count how many times I've discussed this with my spouse. When people think of Omaha, they often think of Warren Buffett.

Berkshire Hathaway's headquarters is here, along with Union Pacific Railroad, Mutual of Omaha, and other major companies that have their roots here.

The Kellogg factory and MetLife operations are also in full swing. But as I looked into it, my perspective changed.

The cost of living index in Omaha is around 90, which is about 9% lower than the national average. So, earning $72,000 here feels like having a purchasing power of about $100,000 to $110,000 in coastal cities.

Moreover, interestingly, the median household income in Omaha is $72,708, which means that earning this much allows you to live comfortably without feeling out of place.

The most striking factor is housing. The median home price in Omaha is around $280,000, so with a $72,000 income, the home price is about four times the income.

This number hit me hard. In coastal cities, this ratio can be 8 to 10 times. Here, I felt like I could manage without both partners working. Of course, the average listing price is a bit higher, and a two-bedroom apartment rents for about $1,300 to $1,600, so renting isn't bad either. 

However, there's one thing I must emphasize. If you only look at the mortgage when considering homes in Omaha, you might fall into a trap.

If you buy a $290,000 house with a 20% down payment, the principal and interest would be around $1,500 a month, but the problem is that Nebraska has high property taxes.

In this area, most homes fall into the category of property taxes exceeding $3,000 a year. When you add insurance, the actual housing cost rises to around $2,000 a month.

Still, it can be managed within 30% of your income, but if you come in believing that "mortgages are cheap," you might be surprised. I wanted to give you a heads-up about this. 

And this is really important: in Omaha, "which neighborhood you live in" can completely change your quality of life.

The western suburb of Elkhorn has a median household income of over $120,000, and Papillion is also in the $110,000 range.

These neighborhoods have good school districts, low crime rates, many new homes, and are great for raising kids.

However, home prices have risen accordingly, with Elkhorn's median home price around $360,000. Conversely, if you head north into the city center, there are areas where household incomes drop below $60,000. Even though it's the same Omaha, the quality of life can vary dramatically with just one neighborhood difference. We spent a long time considering this point between our budget and school districts. 

I can't skip talking about job opportunities either. Omaha's economy is supported by healthcare, insurance, and finance. Jobs in these sectors often pay significantly above the local median income, so for professionals in finance or specialized fields, it's possible to aim for more than $72,000. For someone like me, who works remotely and earns a salary from another region while living in Omaha, honestly, this was the biggest draw. I can earn the same but spend significantly less.

Of course, Omaha isn't paradise. Winters are really cold, and there's a lot of snow. Don't expect a vibrant nightlife, and public transportation is limited, so having a car is essential. The gas price, at about $2.80 per gallon, is a small consolation.

But considering all of this, my conclusion after three weeks of crunching numbers is that "there are many more positive signs." Although the income is lower than the national average, the cost of living is correspondingly low, the job market is stable, and the reasonable housing price structure creates a city that allows families to breathe easier.

For those looking to settle down with young families like us, I'd suggest seriously considering Omaha and running the numbers.

However, since everyone's situation is different, be sure to run simulations based on your own budget.