Quick facts: Genoa, NE

Quick Facts

94.7
Cost of Living
below US average
878
Population
13.67
Crime Rate per 1000
below US average
$57,917
Median Income
below US average
$185,000
Median House Price
above US average
$1313
Average Rent
below US average
9%
Poverty Rate
below US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,917.

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Income Needed to Buy

βœ— Stretch
$58k/year
Based on $185,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $58k vs median $57,917
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Income Needed to Rent

βœ“ Affordable
$56k/year
Based on $1313/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($57,917) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Genoa, NE

Genoa is a small city located in Nance County, Nebraska, with a population of around 1,000 residents. Nestled in the heart of the Plains, it covers a land area of about 0.73 square miles. Founded in the 1870s, the town has a rich history tied to agriculture and the development of the railroad. Genoa is known for its close-knit community and welcoming atmosphere. The city offers various amenities, including local parks, schools, and shops. It's home to the Genoa Veterans Home, which provides care for veterans, along with the unique Genoa Indian School National Historic Landmark, which highlights its historical ties to Native American education. The surrounding area is characterized by scenic landscapes, ideal for those who enjoy outdoor activities such as hiking, fishing, and birdwatching. Genoa's annual events, like the Genoa Harvest Festival, showcase local culture and foster community spirit. Overall, Genoa provides a charming and peaceful setting for residents and visitors alike, reflecting the essence of small-town America in Nebraska.

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