Location: Omaha-Council Bluffs, NE | Metro: Lincoln, NE HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
To determine if you should buy a property in ZIP 68462 (Waverly, NE) for Section 8 investment, follow this decision tree:
1) Does FMR $1050 (zip FY 2024) clear debt service on a $345,583 property?
No. The Fair Market Rent (FMR) for ZIP 68462 in fiscal year 2024 is set at $1050 per month. For a property valued at $345,583, the typical mortgage payment would be higher than this amount, making it difficult to cover expenses solely through Section 8 payments.
2) Is market rent $1,116 (Census ACS) above, at, or below FMR?
Above. The average market rent in Waverly, NE is $1,116 according to the Census ACS data. This is higher than the FMR of $1050, indicating that landlords could potentially earn more by renting to non-Section 8 tenants.
3) Are 19.2% renters + N/A-day days on market (DOM) enough demand?
It depends. With 19.2% of the population being renters, there is some demand for rental properties. However, the lack of specific data on days on market (DOM) makes it challenging to assess how quickly properties are rented out. Without this information, it's unclear if there's sufficient turnover to support a Section 8 portfolio.
If the FMR does not cover your debt service, purchasing a property for Section 8 purposes in Waverly, NE is not advisable. Given the market rent exceeds the FMR, focusing on non-Section 8 tenants could provide better financial returns. The rental demand is present but insufficiently quantified without DOM data to make a definitive recommendation.
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.