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 | $1,290 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,600 | $261,792 | 0.61% | D |
| 3BR | $2,120 | $277,809 | 0.76% | D |
| 4BR | $2,400 | $343,490 | 0.7% | D |
U.S. Census Bureau data (2024)
The ZIP code 68122 is situated in a middle-class neighborhood in Omaha, Nebraska, with a total population of 13,352 residents. The area has a relatively low percentage of renters at 16.3%, indicating that homeownership is prevalent. This is further supported by the median home value of $283,860, which is above the national average, suggesting that the homes in this area are generally well-maintained and offer good value. The median household income in ZIP 68122 is $102,591, which is significantly higher than the national median, pointing to a financially stable community.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 68122 in fiscal year 2024 is set at $1,420. This is notably higher than the current market rent of $1,311, as reported by the Census Bureau's American Community Survey (ACS). This gap between the FMR and the market rent indicates an opportunity for landlords who can leverage the higher subsidy levels to increase their rental income.
Given these factors, ZIP 68122 is suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to the market rent means they can receive substantial subsidies without the need for extensive property management. On the other hand, for hands-on value-add buyers, the potential exists to renovate properties and charge rents closer to the FMR, thereby maximizing profits while still being attractive to tenants eligible for Section 8 vouchers. In conclusion, the financial stability of the community combined with favorable rental economics makes ZIP 68122 a promising investment for Section 8 landlords and small-portfolio investors alike.
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.