Location: Otoe County, NE | Metro: Omaha-Council Bluffs, NE-IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
U.S. Census Bureau data (2024)
The ZIP code 68413, located in a county with 558 residents, stands out due to its low rental rate of only 3.5%, indicating that most residents own their homes. The median income in this area is $81,944, and the median home value is significantly higher at $250,445. This suggests a relatively affluent community where homeownership is prevalent.
Turning to the economics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 68413 is set at $980 for fiscal year 2024. In stark contrast, the market rent as per the Census American Community Survey (ACS) is approximately $1,600. This discrepancy means that landlords in this area can expect to receive less in rental assistance compared to the actual market rates.
The data signature for ZIP 68413 reads as stable. With a high median home value and a low percentage of renters, there is little indication of significant change in the near future. The gap between the FMR and market rent highlights the challenges landlords might face in accepting Section 8 vouchers, as the difference must be covered by the tenant or accepted by the landlord.
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.