Section 8 Fair Market Rent (FMR) for ZIP 51557 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$910
1 Bedroom	$950
2 Bedrooms	$1,130
3 Bedrooms	$1,500
4 Bedrooms	$1,700
5 Bedrooms	$1,972
6 Bedrooms	$2,209
7 Bedrooms	$2,386
8 Bedrooms	$2,505

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

828

Median Household Income

$76,250

Housing Units

416

Renter Percentage

11.7%

Occupancy Rate

84.4%

Renter Occupied

The ZIP code 51557, located in Iowa, represents a stable and growing real estate market that offers significant opportunities for both landlords and small-portfolio investors. The area benefits from a mix of residential and commercial developments, providing a diverse range of investment options.

The Fair Market Rent (FMR) for ZIP 51557 in fiscal year 2024 is set at $980, indicating a robust rental price point supported by HUD guidelines.
The average market rent, according to the Census American Community Survey (ACS), stands at $890, suggesting a slight premium landlords can charge over the market rate to remain competitive.
The median home value in the area is $229,060, which reflects a moderate cost of entry for real estate investments compared to other regions in the state.
Renters make up 11.7% of the housing market, showing a smaller but steady demand for rental properties.
The median income in ZIP 51557 is $76,250, which supports the ability of residents to afford the current rental rates and property values.

In summary, ZIP 51557 presents a balanced market with a fair amount of rental demand and reasonable property values. Landlords can leverage the higher HUD-recommended rents while ensuring their properties remain attractive to tenants. Small-portfolio investors should consider the stability of the local economy, as reflected by the median income, when evaluating potential returns on investment. The slightly lower market rent compared to the FMR also suggests room for strategic pricing adjustments to maximize occupancy and rental income.

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.