Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 51564 stands out in its county with a total of 520 residents, where only 14.7% are renters. The median income here is notably high at $78,750, while the median home value is even higher at $162,471. This combination suggests that homeownership is a strong trend in the area, likely due to the relatively affluent population.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 51564 is set at $980 for the fiscal year 2024. In contrast, the market rent based on Census American Community Survey data is $775. This indicates that landlords participating in the Section 8 program can potentially charge a premium over the typical market rate, which could be appealing to those looking to maximize their rental income.
The data signature for ZIP 51564 reads as stable. With a high median income and home values, the area is unlikely to experience rapid changes in housing dynamics. The low percentage of renters also implies a community that is primarily composed of long-term homeowners, contributing to a sense of permanence and stability. For landlords and small-portfolio investors, this stability means that there is less risk associated with fluctuations in the rental market, and the potential to benefit from the higher FMR rates offered by the Section 8 program.
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.