Location: Omaha-Council Bluffs, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,180 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
The classification of ZIP code 68198 in Omaha, NE, on the yield and stability axes requires a closer look at the available data. The Fair Market Rent (FMR) for ZIP 68198 in fiscal year 2024 is set at $1180. This figure provides insight into the rental market, suggesting that landlords can expect to receive this amount as the average rent per unit. However, the lack of specific data on market values and home values makes it challenging to assess the potential for flipping properties. Given the limited data, the market appears more suited for steady cash flow rather than high-yield flips.
In terms of stability, the data is sparse, with no percentages of renters, days on market (DOM), or median income figures provided. This absence of information implies that the stability of the market cannot be fully evaluated based on the current data. Without these key metrics, it is difficult to determine if the area is experiencing rapid growth or facing economic challenges that could affect tenant retention and property values.
Despite the incomplete dataset, the FMR of $1180 suggests a reliable source of income for landlords and small-portfolio investors. The focus should be on finding properties that offer a positive cash flow when considering the FMR and any associated expenses such as maintenance, taxes, and insurance. While the exact stability metrics are missing, the area's proximity to the University of Nebraska Medical Center could indicate a steady demand from students, healthcare workers, and other professionals, contributing to long-term stability.
To make a more informed decision, further research is necessary to uncover the missing pieces of the puzzle, particularly around the percentage of renters and median income levels. These factors will help clarify whether ZIP 68198 leans towards a high-yield/low-stability market or remains firmly in the steady-cashflow category.
Data Sources: FMR data from HUD (2027).
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.