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

Investment Score for ZIP 68108

Monthly Rent (2BR)

$1,450

Median Price (2BR)

$156,364

1% Rule

0.93%

Annual Yield

11.13%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,220	$118,420	1.03%	B
2BR	$1,450	$156,364	0.93%	C
3BR	$1,920	$188,446	1.02%	B
4BR	$2,180	$203,756	1.07%	B
5BR	$2,529	$242,537	1.04%	B

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

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). 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.