Section 8 Fair Market Rent (FMR) for ZIP 51550 - 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	$870
1 Bedroom	$900
2 Bedrooms	$1,070
3 Bedrooms	$1,420
4 Bedrooms	$1,610
5 Bedrooms	$1,868
6 Bedrooms	$2,092
7 Bedrooms	$2,259
8 Bedrooms	$2,372

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

169

Median Household Income

$77,500

Housing Units

Renter Percentage

9.5%

Occupancy Rate

94.9%

Renter Occupied

The ZIP code 51550, located in Iowa, represents a modest suburban area with a mix of residential properties. The region is characterized by its affordability and stability, making it an attractive location for both tenants and investors.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 51550 for fiscal year 2024 is set at $980.
The average market rent for a similar unit, according to the latest Census American Community Survey (ACS) data, is higher at $1,354.
The median income in the area stands at $77,500, indicating a stable economic base that supports rental payments.
Renters make up 9.5% of the housing stock, suggesting a smaller but steady demand for rental units.
Due to the lack of recent sales data, the median home value is listed as N/A, but the low percentage of renters implies a preference for homeownership.
The Days on Market (DOM) figure is also listed as N/A, which could indicate that property listings are either infrequent or quickly sold.

The combination of a modest FMR and a higher market rent suggests potential for positive cash flow if rental properties are priced competitively. With a median income of $77,500, there's a reasonable buffer for tenants to cover their rent without financial strain. However, the low renter share indicates that the market may be less robust compared to urban areas, meaning investors should focus on quality and location to attract tenants. The absence of recent sales data and DOM figures underscores the need for careful due diligence when considering property purchases in this area. Overall, ZIP 51550 presents a conservative investment opportunity for those seeking stable returns in a less volatile market.

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.