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 | $1,040 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $291,215 | 0.44% | F |
| 3BR | $1,710 | $305,509 | 0.56% | F |
| 4BR | $1,940 | $445,078 | 0.44% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 68152, located in the Omaha-Council Bluffs, NE-IA HUD Metro FMR Area, does not align favorably for landlords. The Fair Market Rent (FMR) set at $1040 for fiscal year 2024 is below the market rent of $1,104 as per the Census ACS data. This discrepancy suggests that landlords might struggle to cover costs if they adhere strictly to the FMR guidelines.
Acquisition of properties in this area is relatively affordable, given the median home value stands at $337,942. However, the lack of available data on days on market (DOM) and the percentage of homes needing price cuts indicates a potential challenge in accurately gauging the local housing market's liquidity and competitiveness. Without these metrics, it's difficult to assess the ease of property acquisition and resale.
Tenant demand in ZIP 68152 is moderate. With a population of 6,791, and 22.5% of residents being renters, there is a steady but not overwhelming demand for rental properties. This demographic suggests that while there are tenants seeking accommodation, the competition among landlords could be significant, especially considering the modest size of the zip code.
Verdict: The Omaha-Council Bluffs area presents a mixed scenario for landlords and small-portfolio investors. While the median home value makes acquisitions feasible, the lower FMR compared to market rents poses a financial challenge. Tenant demand is present but limited by the zip code's size, which could affect occupancy rates. Landlords must carefully consider their cost structures and market positioning to ensure profitability in this environment.
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.