Location: Dodge County, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The ZIP code 68044 is predominantly a homeowner-dominated area, with only 13.7% of its population renting. This suggests that the demand for rental properties, particularly those utilizing Section 8 vouchers, is relatively low compared to areas with higher percentages of renters. The median household income stands at $141,250, which is significantly above the national average and indicates a generally affluent community.
In this context, the typical market rent of $955 represents approximately 6.77% of the median household income. This percentage is calculated by dividing the market rent by the median household income and multiplying by 100. To put this into perspective, the Fair Market Rent (FMR) for the area is set at $1100 for FY 2024, meaning the actual market rent is below the FMR threshold, suggesting that rents are slightly lower than what is considered fair or average in the region.
Given the income levels and the relatively low percentage of renters, landlords in ZIP 68044 can expect tenants who are likely to be financially stable and able to meet their rental obligations without significant reliance on government assistance. The typical Section 8 voucher amount of $955 would cover a substantial portion of the market rent, but it is important to note that the voucher amount is less than the FMR, indicating that landlords might need to adjust their expectations regarding rental income if they choose to accept Section 8 tenants.
The kind of tenant profile a landlord should expect in this ZIP code includes individuals or families who are seeking affordable housing options within a more affluent neighborhood. While some may rely on Section 8 vouchers, others could be paying out-of-pocket, possibly supplemented by vouchers, due to the area's below-FMR market rent. Landlords should prepare for a mix of tenants, with a focus on those who are capable of handling the financial responsibilities associated with renting in a high-income area.
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.