Section 8 Fair Market Rent (FMR) for ZIP 51536 - 2027

Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$850
1 Bedroom	$890
2 Bedrooms	$1,060
3 Bedrooms	$1,410
4 Bedrooms	$1,590
5 Bedrooms	$1,844
6 Bedrooms	$2,065
7 Bedrooms	$2,230
8 Bedrooms	$2,342

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

613

Median Household Income

$101,750

Housing Units

245

Renter Percentage

19.1%

Occupancy Rate

95.9%

Renter Occupied

The ZIP code 51536, located in Iowa, represents a rural area with a strong agricultural influence. The region is characterized by its low population density and a predominantly white-collar workforce, which contributes to a stable economic environment.

Fair Market Rent (FMR) for a 1-bedroom apartment in ZIP 51536 is $980 for fiscal year 2024.
The average market rent for the same type of unit, according to Census ACS data, is $862.
The median home value in this ZIP code is not available, indicating that rental properties might be more common than owned homes.
Rental properties account for 19.1% of all housing units in the area, suggesting a moderate demand for rentals.
The median income of residents in ZIP 51536 is $101,750, providing insight into the financial capability of potential tenants.
The days on market (DOM) for rental listings is not available, but given the stable economy and moderate demand, it's reasonable to assume a typical DOM for rural areas.

The data points indicate that while the Fair Market Rent suggests a higher potential for rental income at $980, the actual market rent is slightly lower at $862. This gap could represent an opportunity for landlords who can manage their properties efficiently to achieve higher rents. The lack of median home values and DOM figures highlights the dominance of rental properties over homeownership in the area, making it a suitable market for small-portfolio investors looking to capitalize on steady rental demand. With a median income of $101,750, there is a solid tenant base capable of paying rents close to the FMR. Overall, ZIP 51536 offers a balanced investment opportunity with room for strategic pricing and management to maximize returns.

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.