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 | $1,550 |
| 1 Bedroom | $1,610 |
| 2 Bedrooms | $1,920 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $2,890 |
| 5 Bedrooms | $3,352 |
| 6 Bedrooms | $3,754 |
| 7 Bedrooms | $4,054 |
| 8 Bedrooms | $4,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,920 | $429,271 | 0.45% | F |
| 3BR | $2,550 | $333,102 | 0.77% | D |
| 4BR | $2,890 | $514,252 | 0.56% | F |
| 5BR | $3,352 | $661,348 | 0.51% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 68130 in Omaha, NE, for fiscal year 2024 is set at $1610. This figure represents the maximum amount that a landlord can receive from the Housing Choice Voucher program, commonly known as Section 8, for renting a unit in this area. It's important to note that this is not the rent you will charge your tenants; it's the payment standard used by the government to determine the subsidy.
In comparison, the Zillow Observed Rent Index (ZORI), which reflects the average rent prices in the area, stands at $1593. This indicates that the FMR is slightly higher than the typical market rent, offering a potential advantage for landlords participating in the Section 8 program.
The renter share of the population in ZIP 68130 is 22.7%. This suggests a moderate demand for rental properties, meaning there is a decent pool of potential tenants who might be interested in your property, especially if they qualify for Section 8 assistance.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in this ZIP code is around $454,607. This gives you an idea of the acquisition cost for a typical home in the area. However, you should also consider the possibility of finding investment properties below this average, depending on their condition and location.
Before making a decision to enter the Section 8 market, verify that the property meets all local housing quality standards. The Housing Quality Standards (HQS) set by the government ensure that the homes are safe, decent, and sanitary. Failure to meet these standards can result in penalties and loss of income from the voucher program.
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.