Warren Buffett is worth over $140 billion. He could live on a private island, a sprawling estate in the Hamptons, or a penthouse overlooking Central Park. Instead, if you want to find the Warren Buffett home address, you have to head to a quiet, leafy corner of Omaha, Nebraska. Specifically, he lives in a house he bought for $31,500 back in 1958.
It’s kind of wild when you think about it.
Most people, the moment they get a promotion or a small windfall, immediately start looking for a bigger kitchen or a three-car garage. Buffett didn't. He stayed. He’s lived in the same gray stucco house for over sixty-five years. It’s located at 5551 Farnam Street in the Dundee neighborhood. Honestly, it’s arguably the most famous piece of real estate in the Midwest, not because it’s flashy, but because it represents a philosophy of life that almost no one else in his tax bracket follows.
Why the Warren Buffett home address is a lesson in value investing
The house is about 6,500 square feet. Now, to you or me, that sounds like a lot. It’s a big house. But in the world of billionaires? It’s a shack. It has five bedrooms and 2.5 bathrooms. He calls it the "third-best investment" he ever made, trailing only his wedding rings.
There’s a specific reason why this address matters to investors. It’s not just about a roof over his head. It’s a physical manifestation of "compounding." Every dollar he didn't spend on a $50 million mansion in the 1970s was a dollar he kept in Berkshire Hathaway. Over fifty years, those saved dollars turned into billions.
He likes his life. He likes his routine. He famously drives himself to McDonald's for breakfast every morning, choosing his meal based on whether the stock market is up or down. If the market is down, he goes for the cheaper $2.61 sausage biscuit. If it’s up, he might splurge on the $3.17 bacon, egg, and cheese biscuit. This isn't a performance for the cameras; it's just how the man is wired. The house at 5551 Farnam Street is the anchor of that consistency.
The actual specs of the Dundee house
If you were to drive by—which many tourists do—you’d see a fairly standard, well-kept home. It’s fenced off now, for obvious security reasons, but it’s still remarkably accessible compared to the fortresses inhabited by Jeff Bezos or Mark Zuckerberg.
- Original Purchase Price: $31,500 in 1958.
- Current Estimated Value: Somewhere around $1.4 million.
- Neighborhood: Dundee, Omaha.
- Lot Size: 0.75 acres.
You’ve got to appreciate the irony. The man who owns companies that own the world—Geico, Dairy Queen, Duracell, massive chunks of Apple and Coca-Cola—chooses to spend his evenings in a house that wouldn't even rank in the top 500 most expensive homes in Los Angeles.
💡 You might also like: Why Your Unique Selling Proposition in Marketing Is Probably Failing (And How to Fix It)
Security and the reality of being a billionaire neighbor
Living next to the world's most famous investor isn't always a quiet suburban dream. The neighborhood is actually quite nice, filled with older, character-rich homes. But there’s a persistent stream of "pilgrims." During the Berkshire Hathaway annual shareholder weekend (often called "Woodstock for Capitalists"), thousands of people descend on Omaha. A good chunk of them make a detour to see the house.
Local residents are used to it. They see the security patrols. They see the occasional fan taking a selfie by the fence. It's become a landmark.
Interestingly, Buffett doesn't have a giant gate that blocks the view. There are cameras, sure. There are guards nearby. But it feels like a home, not a compound. He once told BBC that he’s happy there and would move if he thought he’d be happier elsewhere. He basically said, "I’m warm in the winter, I’m cool in the summer, it’s convenient for me. I couldn’t imagine having a better house."
Is it really his only house?
Well, not exactly, though the story is often told that way. For a long time, he owned a vacation home in Laguna Beach, California. He bought that one in 1971 for $150,000. He eventually sold it in 2018 for about $7.5 million. Even his "splurge" vacation home was a massive win on the balance sheet.
But the Farnam Street address is the primary residence. It’s where the work happens. It’s where he reads for five or six hours a day. He doesn't have a high-tech home office with Bloomberg terminals and flashing screens. He has a desk, a telephone, and stacks of annual reports.
The psychology of the "Forever Home"
Most of us are conditioned to believe that more is better. More square footage, more bathrooms, more prestige. Buffett views "more" as a burden. He has often spoken about how "possessions end up possessing you." If you have ten houses, you need ten property managers. You need ten gardening crews. You have ten roofs that might leak.
By staying at the same Warren Buffett home address, he eliminates the mental "noise" of luxury.
It’s a concept known as "satisficing." Instead of constantly searching for the "best" possible house, he found one that was "good enough" and decided to stop looking. This freed up 100% of his brainpower to focus on capital allocation. Imagine how much time we waste thinking about furniture or renovations. Buffett just doesn't care. The carpet is probably older than you are.
What visitors see when they visit 5551 Farnam St
If you're planning a trip to Omaha, don't expect a tour. You can't go inside. What you will see is a gray, 1920s-era house with a relatively modest footprint.
- The Fence: There is a security fence, which was upgraded over the years as his fame grew.
- The Proximity: It’s right on a corner. You can walk on the sidewalk just a few feet from his yard.
- The Quiet: Despite being a global figure, the street is surprisingly normal. There aren't neon signs or gift shops.
Practical takeaways from the Buffett lifestyle
We can't all be billionaires, and most of us don't want to live in the same house for 60 years. But there is a middle ground that actually makes sense for your bank account.
Don't upgrade just because you can. The "lifestyle creep" is what kills wealth. When your income goes up, your expenses usually follow it like a shadow. If you can keep your housing costs fixed while your income grows, that gap is where wealth is created.
Focus on utility over status. Buffett’s house provides shelter, comfort, and a place to read. A mansion provides the same things, plus a lot of ego. He realized decades ago that he didn't need to pay for the ego part.
Location matters, but not for the reasons you think. He lives in Omaha because it’s where he feels comfortable. He’s not in New York or London because he doesn't want the distractions of the "herd." Staying away from the noise allowed him to think clearly.
The legacy of 5551 Farnam Street
When Warren Buffett eventually passes away, his house will likely become a museum or a historical landmark. It is the birthplace of the greatest investment track record in history. It’s where he sat during the 1987 crash, the 2008 financial crisis, and the 2020 pandemic, calmly reading his newspapers and deciding which companies to buy.
It stands as a silent rebuke to the culture of excess.
If you ever find yourself in Omaha, drive by. Don't be weird about it—don't linger or try to peek through the windows. Just look at the house and realize that the man who owns the world decided that $31,500 worth of stucco and wood was plenty.
How to apply the "Omaha Mindset" to your own life
You don't need to live in a 1958 time capsule to benefit from this. It’s about the "margin of safety." By living below his means, Buffett created a massive margin of safety for his life. If Berkshire Hathaway had hit a rough patch in the 60s, he wouldn't have lost his home. He wasn't overleveraged.
- Audit your "need" for space. Do you really use that extra room, or is it just a place to store boxes of stuff you haven't looked at in three years?
- Calculate the opportunity cost. If you took the $500 extra you want to spend on a "better" apartment and put it into an index fund for 20 years, what would that look like? (Hint: It’s a lot of money).
- Value your time over your zip code. Buffett stays in Omaha because it’s a 5-minute drive to his office at Kiewit Plaza. He doesn't waste hours in traffic.
The story of the Warren Buffett home address isn't really about real estate. It’s about knowing who you are and what you actually need to be happy. For the Oracle of Omaha, that happens to be a quiet corner in Nebraska and a cherry Coke.
To truly follow in his footsteps, start by looking at your biggest fixed expense—your housing—and asking yourself if it's serving your goals or just your image. The answer might be the difference between retiring comfortably or working forever.
Actionable Next Steps:
- Review your housing-to-income ratio: Aim to keep your total housing costs (mortgage/rent, taxes, insurance) under 25% of your take-home pay, regardless of how much you "qualify" for at the bank.
- Research the Dundee neighborhood: If you are interested in the history of Omaha's architecture, look into the 1920s stucco styles that define that area; it’s a masterclass in durable, functional design.
- Read "The Snowball": For more details on Buffett's early years in that house, Alice Schroeder’s biography provides the most granular look at his domestic life and his reluctance to move.