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Douglas County/Omaha/68118

68118

ZIPSAFMR
Douglas County, NE
Zillow

ZIP Investment Score

93Below average

095130300
BRFMR
Eff. Rent
0 BR$1,760$1,290
1 BR$1,830$1,380
2 BR$2,180$1,990
3 BR$2,890$2,120
4 BR$3,280$2,550
5 BR$3,772Not available
6 BR$4,338Not available
7 BR$4,988Not available
8 BR$5,737Not available

Purchase Price Calculator

Maximum purchase price
$233,797

Cost breakdown

+Likely effective rent$1,990
HUD FMR$2,180
Market rentUsed$1,990
Est. payment standard (94%)$2,060
-Principal and interest-$1,182
Loan amount$187,037
Down payment$46,759
Rate6.50%
Term30 years
-Operating costs-$608
Property taxes-$234
Insurance-$175
Utilities$0
HOA$0
Management-$199
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,878(68.2% ROI)
Projected value
$251,773
Return breakdown
Property appreciation+$17,977
Loan principal paid down+$6,701
Rental cash flow+$7,200
5-year hold
+$54,673(116.9% ROI)
Projected value
$264,519
Return breakdown
Property appreciation+$30,723
Loan principal paid down+$11,950
Rental cash flow+$12,000
10-year hold
+$117,957(252.3% ROI)
Projected value
$299,280
Return breakdown
Property appreciation+$65,483
Loan principal paid down+$28,474
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.36
1 BR
1.33
2 BR
1.10
3 BR
1.36
4 BR
1.29
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 68118 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 68118 (Omaha, NE) is $2,180 a month. That is up 6.3% from $2,050 in FY 2026. Omaha is in the Omaha-Council Bluffs, NE-IA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 49 ZIP codes in Douglas County, 68118 is tied for the highest two-bedroom rent (county range $1,180–$2,180). The median county two-bedroom FMR in Nebraska is $1,014, so ZIP 68118 is 115% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 68118
BedroomsFY 2027Change90–110% range
Studio$1,760+8.0%$1,584–$1,936
1BR$1,830+6.4%$1,647–$2,013
2BR$2,180+6.3%$1,962–$2,398
3BR$2,890+6.3%$2,601–$3,179
4BR$3,280+6.8%$2,952–$3,608

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 68118
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,760$1,830$2,180$2,890$3,280
FY 2026$1,630$1,720$2,050$2,720$3,070
FY 2025$1,470$1,560$1,870$2,480$2,760
FY 2024$1,350$1,460$1,760$2,350$2,610
FY 2023$1,200$1,330$1,620$2,170$2,410

Two-bedroom rent in nearby Douglas County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 68118
68108$1,450−33.5%
68109$1,460−33.0%
68110$1,190−45.4%
68111$1,270−41.7%
68112$1,470−32.6%
68114$1,630−25.2%
68116$1,770−18.8%
68117$1,650−24.3%
68118Current$2,180—
68122$1,600−26.6%
68124$1,510−30.7%
68127$1,440−33.9%

Questions about ZIP 68118 rents

How much will Section 8 pay for a two-bedroom in ZIP 68118?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,180, that basic range is $1,962 to $2,398 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 68118 in?

ZIP 68118 is in the Omaha-Council Bluffs, NE-IA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 68118 for FY 2027?

The two-bedroom FMR rose 6.3%, from $2,050 in FY 2026 to $2,180 in FY 2027. Since FY 2023 it has risen 34.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentOmaha, NE fair market rentNE statewide rentsWhat is SAFMR?Data sources