Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,630 | $387,065 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 51526 stands out due to its unique combination of demographic and economic characteristics. With a total population of 1,664 residents, only 8.9% of whom rent their homes, it indicates a predominantly owner-occupied area. The median income in this ZIP is notably high at $95,179, reflecting a community with relatively strong financial health. This is further underscored by the median home value, which sits at $377,667, suggesting a robust real estate market.
When it comes to the economics of Section 8 vouchers, the disparity between the Fair Market Rent (FMR) and the actual market rent is stark. For fiscal year 2024, the FMR is set at $1,410, while the average market rent, based on Census ACS data, is only $627. This significant gap means that landlords in ZIP 51526 can potentially charge much higher rents through Section 8 vouchers compared to the local market rate, making it an attractive option for those who wish to leverage federal assistance programs.
Given the data signature, ZIP 51526 appears to be a stable area. The high median income and median home values suggest a community that has been able to maintain its economic standing. Additionally, the low percentage of renters implies that homeownership is a priority, contributing to a sense of permanence and stability within the neighborhood. However, the substantial difference between the FMR and market rent could indicate transitional dynamics within the rental sector, particularly as landlords might be inclined to accept Section 8 vouchers to command higher rents. Overall, the ZIP code presents a balanced environment with opportunities for both stability and growth in the rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.