Section 8 Fair Market Rent (FMR) for ZIP 68108 - 2027

Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,170
1 Bedroom	$1,220
2 Bedrooms	$1,450
3 Bedrooms	$1,920
4 Bedrooms	$2,180
5 Bedrooms	$2,529
6 Bedrooms	$2,832
7 Bedrooms	$3,059
8 Bedrooms	$3,212

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

14,578

Median Household Income

$53,609

Housing Units

6,066

Renter Percentage

46.8%

Occupancy Rate

93.1%

Renter Occupied

2,641

Housing Authorities Serving ZIP 68108

Omaha Housing Authority (Omaha, NE) - 5,634 Section 8 vouchers
Douglas County Housing Authority (Omaha, NE) - 1,416 Section 8 vouchers

The analysis of ZIP 68108 in the Omaha-Council Bluffs metropolitan area reveals key insights for landlords and small-portfolio investors.

The rent math does not fully align. The Fair Market Rent (FMR) set at $1160 for the fiscal year 2024 contrasts with the actual market rent indicated by ZORI, which stands at $1,215. This suggests that while tenants may qualify for assistance, landlords will need to adjust their expectations slightly downward to attract Section 8 participants.
Acquisition appears relatively affordable. With a median home value of $170,673, potential investors can secure properties without breaking the bank. However, the lack of data on days on market (DOM) and the low 0.3% price-cut share indicate limited competition and possibly stable pricing, making it a good time to buy.
Tenant demand is present but moderate. The ZIP code has a total population of 14,578, with 46.8% of residents being renters. This sizable rental market supports the viability of investing in rental properties here.

In conclusion, ZIP 68108 presents a mixed picture for Section 8 investments. While the gap between FMR and market rents may require some adjustment in pricing strategies, the affordable median home values and moderate tenant demand suggest a feasible opportunity. Investors should prepare for a slight discount on market rents and consider the stability of property values as a positive aspect of this market.

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.