Average list price: $276,000 Average annual rent: $10,400 Price to rent ratio: 26.4
Unlike many Midwestern cities in the more industrialized areas, Omaha has been on a fast track for growth. Its population has increased by more than 12% since 2000. The economy has remained very strong with unemployment at only 5.5% in April, almost half the national level.
There is a limited supply of homes available within the city limits and that has kept condo prices unexpectedly high for this normally very restrained real estate market. Many downtown, two-bedroom condos sell for a half million dollars or more.
In contrast, rents are reasonably low with many two-bedroom apartments listing for under $800. That means owning is quite a lot more expensive than renting.