Section 8 Fair Market Rent (FMR) for ZIP 68007 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,430
1 Bedroom	$1,500
2 Bedrooms	$1,780
3 Bedrooms	$2,360
4 Bedrooms	$2,670
5 Bedrooms	$3,097
6 Bedrooms	$3,469
7 Bedrooms	$3,747
8 Bedrooms	$3,934

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

19,536

Median Household Income

$141,042

Housing Units

6,682

Renter Percentage

7.5%

Occupancy Rate

94.0%

Renter Occupied

470

Housing Authorities Serving ZIP 68007

Omaha Housing Authority (Omaha, NE) - 5,634 Section 8 vouchers
Douglas County Housing Authority (Omaha, NE) - 1,416 Section 8 vouchers
Blair Housing Authority (Blair, NE)

The ZIP code 68007, encompassing the town of Bennington, Nebraska, presents a unique blend of rural charm and economic stability. Nestled in a region known for its agricultural heritage, Bennington offers investors a glimpse into a market where housing demand is steady and rental prices reflect a balance between affordability and local income levels.

The Fair Market Rent (FMR) for ZIP 68007 in fiscal year 2024 is set at $1,430, providing a benchmark for rental pricing that aligns closely with the actual market conditions.
The Zillow Observed Rental Index (ZORI) indicates that the average market rent in the area is $1,477, a figure slightly above the FMR but still indicative of a stable rental market.
The median home value in ZIP 68007 stands at $410,048, reflecting the overall value of residential properties and suggesting a robust local economy.
Renters make up only 7.5% of the population, indicating a preference for homeownership among residents, which could affect the demand for rental properties.
The days on market (DOM) for properties in this area is 62 days, a moderate timeframe that suggests neither an oversaturated nor a sluggish real estate market.
The median household income in ZIP 68007 is $141,042, a substantial figure that supports the ability of residents to afford higher rents and property values.

In summary, ZIP 68007 offers a balanced real estate market with modest rental demand but strong property values supported by high median incomes. The close alignment between FMR and ZORI indicates a predictable and stable rental environment, while the moderate DOM suggests a healthy pace of sales. Investors should consider the relatively low renter share when assessing potential returns, as it may influence the overall demand for rental units.

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.