Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,320 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
U.S. Census Bureau data (2024)
The dynamics of ZIP 68164 in Omaha, NE, reveal a market in motion, characterized by a delicate balance between supply and demand. The Fair Market Rent (FMR) for the area is set at $1340 for fiscal year 2024, closely aligning with the market rent indicator, ZORI, which stands at $1,365. This suggests that rental prices are in line with what the government deems fair, indicating a stable rental market.
A key metric to consider is the price-cut share, which is a mere 0.1%. This low percentage implies that properties are generally selling at or near their asking prices, without the need for significant discounts. This points towards a demand-driven market where homes are likely to be in high demand, and sellers can maintain their pricing without much adjustment.
The median home value in ZIP 68164 is $291,649. While the days on market (DOM) data is currently unavailable, the other indicators suggest that the real estate market is robust. The 33.6% renter share is particularly noteworthy, as it indicates a substantial portion of the population prefers renting over owning. This could reflect a broader trend of economic caution or a preference for flexibility among residents, but it also means there's ongoing pressure on the rental market. A higher renter share often correlates with increased competition for rental units, which can drive up rents and keep occupancy rates high.
In summary, ZIP 68164 appears to be a market where demand is strong enough to support current rental and sale prices. The low price-cut share and the alignment of FMR and ZORI suggest that while the market isn't overheated, it is certainly moving in a direction that favors those who have properties to offer. For landlords and small-portfolio investors, this means steady returns and the potential for growth as the rental market remains pressured by a significant share of renters.
Data Sources: FMR data from HUD (2027). 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.