Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 51525 in fiscal year 2024 is set at $980. This figure represents the payment standard for Section 8 rentals, meaning that the Housing Choice Voucher program will pay up to this amount per month towards your rental property. It's important to note that this does not necessarily reflect the actual rent you can charge tenants, but rather the maximum subsidy available.
In comparison, the average rent for the area based on recent Census American Community Survey (ACS) data is $728. This indicates that the Section 8 payment standard is higher than the typical market rate, which could be beneficial for landlords looking to cover costs and ensure steady income.
The rental share in this ZIP code is 17.0%, suggesting a moderate demand for rental properties. Given the FMR and the average rent, it appears there is potential for landlords to attract tenants who benefit from the higher subsidy, thereby filling units and maintaining occupancy.
If you're considering purchasing a property in ZIP 51525 for a Section 8 rental, the median home value is approximately $256,234. This figure reflects the acquisition cost you might expect when buying a home in this area, suitable for conversion into a rental unit under the Section 8 program.
Before proceeding with a Section 8 rental, it is crucial to verify that your property meets all the required inspection standards set by the local housing authority. These standards ensure that the living conditions are safe and habitable for tenants, and failing to meet these criteria can result in rejection of your property for the voucher program.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.