Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The ZIP code 68110 in Omaha, NE, stands out within Douglas County due to its unique mix of economic characteristics. With a population of 9,229 residents, it has a significant rental market, with 48.0% of its inhabitants renting their homes. The median income here is $39,813, which is notably lower than the median home value of $147,404, indicating a gap between affordability and housing costs.
In terms of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 68110 in fiscal year 2024 is set at $1030. This amount is higher than the market rent of $960 reported by the Census Bureau's American Community Survey, suggesting that landlords participating in the Section 8 program can expect slightly above-average rental rates compared to the local market. This discrepancy benefits landlords who might otherwise find themselves charging below-market rents to accommodate lower-income tenants.
The data signature for ZIP 68110 reads as stable. The consistent trend in rental participation and the relatively high median home value indicate a neighborhood that has established itself with a balance of renters and homeowners. While the median income is lower, the higher FMR for Section 8 vouchers provides a financial buffer for landlords. This stability is further reinforced by the fact that the voucher rate exceeds the typical market rent, ensuring a steady stream of income for those willing to participate in the program. For small-portfolio investors, this ZIP code offers a reliable investment opportunity with predictable returns.
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.