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 | $1,330 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,480 |
| 5 Bedrooms | $2,877 |
| 6 Bedrooms | $3,222 |
| 7 Bedrooms | $3,480 |
| 8 Bedrooms | $3,654 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,650 | $399,362 | 0.41% | F |
| 3BR | $2,190 | $384,727 | 0.57% | F |
| 4BR | $2,480 | $439,359 | 0.56% | F |
| 5BR | $2,877 | $503,870 | 0.57% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 68133, Papillion, NE, reveals a stable market with strong signals of pricing power for the next 12 to 24 months. The median home value stands at a robust $420,214, indicating a high-end residential area that has attracted significant investment. This figure, coupled with the fact that only 0.2% of listings have reduced their prices, suggests a sellers' market where demand meets supply without significant downward pressure on prices.
The median days on market (DOM) being listed as N/A can be interpreted as a continuation of the tight market conditions, where homes are selling quickly, often before reaching a typical DOM metric. This rapid turnover supports the notion of a competitive environment where buyers are willing to pay close to or even above asking prices, further reinforcing the pricing power landlords and small-portfolio investors can exert.
On the rental side, the Federal Market Rent (FMR) for ZIP 68133 in fiscal year 2024 is set at $1,720. However, the current market rent, according to Census ACS data, is at $1,465. This discrepancy indicates an opportunity for rental income growth, as properties may be underpriced relative to government standards. Landlords should consider adjusting their rents to align more closely with the FMR, capturing additional revenue as the market normalizes towards these benchmarks.
For long-term investors, the setup in Papillion implies a realistic appreciation thesis based on several factors. The low percentage of price reductions and quick sales suggest a resilient housing market that can withstand economic fluctuations better than areas with higher volatility. Moreover, the potential for rental income growth provides a dual-income stream, both from capital appreciation and increased rental yields, making it a compelling investment for those looking to hold properties for extended periods.
In summary, the current median home value, minimal price reductions, and rapid sales indicate a strong pricing power position for landlords and investors in Papillion, NE. The gap between current market rents and the FMR signals an upward trajectory for rental income, which, combined with the potential for property appreciation, offers a solid foundation for long-term investments.
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.