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 | $1,130 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $333,619 | 0.42% | F |
| 3BR | $1,870 | $400,241 | 0.47% | F |
U.S. Census Bureau data (2024)
1380 is the Fair Market Rent (FMR) for ZIP 68016 (Cedar Creek, NE) as set for fiscal year 2024, providing a benchmark for rental prices in the area. 355,007 stands as the median home value, indicating a stable housing market with relatively high property values. However, only 3.6% of residents are renters, suggesting a primarily owner-occupied community where landlords might face competition for tenants. The median income of 118,456 reflects a robust economic base, but without specific data on days on market (DOM) or the percentage of homes that have had their prices cut, it's challenging to assess the current dynamics of the housing market. This ZIP code's low renter share could mean fewer opportunities for traditional rental investments. Yet, the 1380 FMR aligns well with potential Section 8 contract rates, offering a viable alternative for landlords looking to secure long-term, stable tenancy. Given the lack of detailed market-specific metrics, investors should focus on the consistent demand for affordable housing, which Section 8 can reliably provide. The median home value and income levels suggest that properties meeting the FMR criteria could attract steady interest from qualified tenants. In conclusion, while Cedar Creek's real estate landscape leans towards homeownership, Section 8 presents a solid investment opportunity due to the alignment between local FMR and the program's reimbursement rates.
Verdict: Section 8 is a reliable option in ZIP 68016, given the fair market rent and the program's reimbursement rates.
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.