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 | $990 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,230 | $256,198 | 0.48% | F |
| 3BR | $1,630 | $344,160 | 0.47% | F |
| 4BR | $1,850 | $443,824 | 0.42% | F |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 68002, Arlington, Nebraska, presents a unique opportunity for real-estate investors. The Fair Market Rent (FMR) set by HUD for the area is $980 per month for the fiscal year 2024. In contrast, the Census ACS reports the average market rent at $1,033 per month, indicating that voucher tenants would typically generate marginal cash flow for landlords when renting at the FMR rate.
To further analyze the investment potential, consider the median home value in the area, which stands at $372,544. This figure can be used to derive the rent-to-price ratio, a critical metric for evaluating the attractiveness of rental properties. With an average monthly rent of $1,033, the annual rent would be approximately $12,396, resulting in a rent-to-price ratio of about 3.3%. This ratio suggests that the rental income is relatively low compared to the property values, which could influence decisions on whether to invest in rental or ownership properties.
The dynamics between renting and buying in this market are also noteworthy. Although the specific data on days on market (DOM) and the percentage of homes that had their prices cut is not available, these metrics are crucial for understanding the overall health of the real estate market. A lower DOM and fewer price cuts generally indicate a stable and healthy market, which could support both rental and ownership investments.
The strongest angle for investors in this market is likely stability. Despite the marginal cash flow from voucher tenants, the relatively high median home value and the consistent demand for rental properties suggest a robust and stable market environment. Stability provides a reliable foundation for long-term investment strategies, offering predictable returns and reduced risk compared to markets with higher volatility.
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.