Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,290 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
To classify ZIP code 68056, we need to consider both yield and stability factors. The Fair Market Rent (FMR) for ZIP 68056 in fiscal year 2024 is set at $1280. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. However, the absence of market rent and home value data for this ZIP code makes it challenging to compare the FMR against local market conditions.
The stability of an area can be gauged by several indicators, including the percentage of renters, the average number of days on the market (DOM), and median household income. Unfortunately, the provided dataset lacks these specifics for ZIP 68056. Without accurate data on the percentage of renters and the DOM, we cannot determine the volatility of the rental market in this area. Similarly, without knowing the median household income, it's impossible to assess the financial health of potential tenants and how likely they are to maintain consistent rental payments.
In the context of yield versus stability, ZIP 68056 appears to lean towards a scenario where the yield is known but the stability metrics are missing. A high-yield/low-stability market typically involves areas with strong rental demand but high turnover rates and lower tenant incomes. Conversely, a steady-cashflow zone would have moderate yields but stable markets and higher tenant incomes.
Given only the FMR of $1280 and lacking comparative market rent or home value data, as well as key stability indicators, it's difficult to definitively categorize ZIP 68056. It could potentially offer good yields if the local market rent is below the FMR, but the lack of stability data means there is uncertainty about the long-term viability and consistency of cash flow for landlords and small-portfolio investors.
To make a more informed decision, landlords and investors should seek additional local data on market rents, home values, and tenant demographics. This will provide a clearer picture of whether ZIP 68056 is best suited for short-term flipping strategies or longer-term rental investments.
Data Sources: FMR data from HUD (2027).
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.