Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
U.S. Census Bureau data (2024)
13.7% of Louisville, NE's residents are renters, indicating a moderate demand for rental properties in the area. The $347,513 median home value suggests a stable housing market, which can be beneficial for long-term investments. Market rent stands at $1,181 according to the Census ACS, providing a benchmark for potential rental income. However, it's important to note that the Fair Market Rent (FMR) for Section 8 in zip code 68037 for fiscal year 2024 is set at $1010, which is below the market rate, potentially affecting the attractiveness of the program for landlords. The median income of $107,839 offers insight into the financial health of the local population, but with no available data on days on market (DOM) or the percentage of price-cut shares, it's challenging to assess the speed and ease of property turnover. Despite these limitations, the gap between the market rent and the Section 8 FMR could be a deciding factor for investors. Given the data, landlords should carefully weigh the benefits of lower risk and guaranteed payments against the slightly reduced rental income. The verdict on Section 8 in Louisville, NE is cautiously positive, contingent upon the landlord's tolerance for government oversight and the desire for consistent, if not maximized, returns.
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.