Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,180 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
ZIP code 68103 falls within the larger Omaha-Council Bluffs, NE-IA HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1180. However, the market rent and home value data are currently unavailable for this ZIP code, as well as the percentage of renters.
To assess whether ZIP 68103 represents a value pocket, a mid-tier neighborhood, or a premium sub-market within the Omaha-Council Bluffs area, we need to consider the available FMR figure. The FMR of $1180 provides insight into the rental affordability benchmark set by HUD for this area. While specific comparisons to other ZIP codes within the metro are limited due to missing data, we can infer that if the actual market rents are significantly lower than this FMR, it could indicate a value pocket where rental properties are more affordable for low-income tenants.
The absence of market rent and home value data makes it challenging to provide a definitive classification of ZIP 68103. Typically, a high renter share coupled with below-average home values in the broader metro area would suggest a sweet spot for Section 8 properties. However, since the renter share percentage is also unknown, we cannot draw such a conclusion.
Landlords and small-portfolio investors should consider the FMR as a guideline for setting reasonable rent prices that align with HUD's standards for the area. Given the lack of detailed market data, further investigation into local trends and conditions would be necessary to determine the precise market position of ZIP 68103.
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.