Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,760 |
| 1 Bedroom | $1,830 |
| 2 Bedrooms | $2,180 |
| 3 Bedrooms | $2,890 |
| 4 Bedrooms | $3,280 |
| 5 Bedrooms | $3,805 |
| 6 Bedrooms | $4,262 |
| 7 Bedrooms | $4,603 |
| 8 Bedrooms | $4,833 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,180 | $310,760 | 0.7% | D |
| 3BR | $2,890 | $345,309 | 0.84% | C |
| 4BR | $3,280 | $446,966 | 0.73% | D |
| 5BR | $3,805 | $586,154 | 0.65% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 68118, Omaha, NE, suggests a robust market environment for the next 12-24 months, characterized by strong seller pricing power. The median home value stands at $421,886, reflecting a stable and somewhat high-value area. With only 0.1% of listings having been reduced, it's evident that sellers maintain a firm grip on their asking prices, indicating a competitive buyer's market where demand outstrips supply. This scenario is further reinforced by the lack of data on median days on market (DOM), which typically signals swift sales.
On the rental side, the Forward Monthly Rent (FMR) for ZIP 68118 is set at $1760 for fiscal year 2024, while the current market rent (ZORI) is recorded at $1,631. This gap between projected government-supported rental rates and actual market conditions implies that landlords can expect a slight increase in rental income, aligning with broader economic trends and potentially outpacing inflation.
For long-term investors, the data points to a moderate appreciation thesis. While the current market conditions suggest a seller's market with strong pricing power, the relatively low percentage of price reductions and swift sales indicate that the market is unlikely to experience significant growth. However, the stability of home values and the potential for modest rental rate increases provide a solid foundation for maintaining property investments. Long-term investors should anticipate a steady but conservative return on investment, driven by rental income rather than rapid capital appreciation.
To summarize, ZIP 68118 presents a market where homeowners have considerable leverage over pricing, and landlords can look forward to a gradual improvement in rental yields. The setup implies a balanced approach for investors, favoring those who focus on cash flow and moderate capital growth over speculative gains.
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.