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 | $920 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,510 | $242,233 | 0.62% | D |
U.S. Census Bureau data (2024)
The ZIP code 51560 stands out due to its unique demographic and economic characteristics. With a population of 1,772 residents, it has a rental rate of 33.7%, indicating a significant portion of the community relies on rented housing. The median income for residents is $75,481, which is relatively stable and suggests a middle-class area. The median home value is $218,081, reflecting a modest but not low-value residential market.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 51560 in fiscal year 2024 is set at $980, whereas the market rent, according to the Census ACS, is $865. This discrepancy means that landlords accepting Section 8 vouchers can expect higher rents compared to the average market rate, potentially increasing their revenue per unit.
The data signature for ZIP 51560 reads as "stable." The median income and home values suggest a consistent financial environment where residents can afford their living costs without significant strain. While the rental rate indicates some reliance on rented accommodation, the difference between FMR and market rates presents an opportunity for landlords to benefit from Section 8 participation.
To summarize, landlords and small-portfolio investors in ZIP 51560 can anticipate a steady demand for rental properties, particularly those willing to accept Section 8 vouchers. The higher FMR compared to the market rate provides a financial incentive for landlords, making this ZIP code a favorable location for investment in affordable housing.
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.