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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $160,018 | 0.68% | D |
| 3BR | $1,450 | $250,795 | 0.58% | F |
| 4BR | $1,640 | $287,494 | 0.57% | F |
U.S. Census Bureau data (2024)
Woodbine, Iowa, located in Harrison County and designated by ZIP code 51579, stands out due to its unique demographic and economic characteristics. With a population of 2,282 residents, Woodbine has a rental rate of 27.6%, which is slightly above the national average. The median household income in Woodbine is $72,500, indicating a middle-class community. However, the median home value of $229,354 is notably higher than the typical home value in many rural areas, suggesting that homeownership is somewhat costly relative to income levels.
The voucher economics in Woodbine present an interesting opportunity for landlords. The Fair Market Rent (FMR) for a Section 8 voucher in Woodbine for fiscal year 2024 is set at $980 per month, whereas the market rent based on Census American Community Survey data is $794 per month. This means that landlords who accept Section 8 vouchers can expect to receive a higher monthly rent compared to the local market rate, effectively subsidizing their rental income. The difference between the FMR and the actual market rent is $186, which represents a significant financial advantage for landlords willing to participate in the program.
Based on the available data, Woodbine's housing market appears stable. The relatively high median home value suggests a steady demand for homeownership, while the modest rental rate indicates a balanced approach to housing. The voucher economics further support this stability, as they provide a consistent income stream for landlords, helping to maintain rental property occupancy rates and reduce vacancy risks. For small-portfolio investors looking to capitalize on government assistance programs, Woodbine offers a reliable environment where the benefits of accepting Section 8 vouchers are clear and substantial.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.