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 | $880 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $185,870 | 0.59% | F |
| 3BR | $1,450 | $275,766 | 0.53% | F |
| 4BR | $1,640 | $342,170 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 51546 is situated in the heart of Logan, Iowa, a community known for its modest size and suburban charm. With a total population of 3,114, the area reflects a tight-knit community where over one-seventh of residents are renters, indicating a stable demand for rental properties. The median household income stands at $86,910, suggesting that the majority of residents have a comfortable financial standing. This economic stability is further underscored by the median home value of $260,752, which points to a healthy real estate market.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 51546 in fiscal year 2024 is set at $980, reflecting the government's benchmark for affordable housing. However, the actual market rent, as reported by the Census Bureau’s American Community Survey, is $909. This indicates that there is a slight premium for Section 8 eligible units compared to the general market, offering landlords a margin of approximately $71 per unit above the average market rate.
Given these factors, ZIP 51546 presents an interesting opportunity for both hands-off voucher operators and hands-on value-add buyers. For those looking to manage properties with minimal involvement, the area’s stable tenant base and slightly above-market rents make it a reliable choice. On the other hand, for investors who are willing to take a more active role, there is potential to increase property values through renovations and improvements, given the relatively high median home value and income levels. The area's demographics support a steady demand for rental properties, making it a solid investment for those seeking either passive income or growth opportunities.
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.