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 | $980 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,030 | $158,287 | 0.65% | D |
| 2BR | $1,220 | $215,106 | 0.57% | F |
| 3BR | $1,620 | $309,330 | 0.52% | F |
| 4BR | $1,830 | $419,975 | 0.44% | F |
| 5BR | $2,123 | $471,378 | 0.45% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 68048, Plattsmouth, Nebraska, in fiscal year 2024 is set at $1,060. This figure represents the maximum amount that the Housing Choice Voucher Program, commonly known as Section 8, will pay toward your tenant's rent. It is not the total rent you can charge your tenant.
In comparison, the local Zillow Observed Rent Index (ZORI) stands at $1,192. This indicates that the average market rent for a property in this area exceeds the FMR by about $132. As a landlord, you must ensure that the rent you charge does not exceed the FMR plus any additional amount that the tenant is responsible for paying out-of-pocket, which is typically 30% of their income.
The demand for rental properties in Plattsmouth is strong, with renters comprising 16.0% of the total population. This suggests that there is a significant number of individuals who might benefit from Section 8 vouchers, making it a viable option for filling vacancies and ensuring steady cash flow.
If you're looking to acquire a new rental property, the median home value in ZIP 68048 is around $305,609. This is an important consideration when evaluating the potential return on investment and the overall financial viability of becoming a Section 8 landlord.
Before proceeding with your first Section 8 rental, verify that your property meets all the required standards for habitability and safety as outlined by the local housing authority. These standards include but are not limited to, ensuring that your property is free from health and safety hazards, has adequate heating and plumbing, and is generally in good repair. Compliance with these requirements is essential to avoid penalties and ensure that your property is eligible for the program.
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.