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Sarpy County/Bellevue/68123

68123

ZIPSAFMR
Sarpy County, NE
Zillow

ZIP Investment Score

96Above average

095130300
BRFMR
Eff. Rent
0 BR$1,330$1,020
1 BR$1,390$1,140
2 BR$1,650$1,620
3 BR$2,190$1,970
4 BR$2,480$2,500
5 BR$2,852Not available
6 BR$3,280Not available
7 BR$3,772Not available
8 BR$4,338Not available

Purchase Price Calculator

Maximum purchase price
$178,815

Cost breakdown

+Likely effective rent$1,620
HUD FMR$1,650
Market rentUsed$1,620
Est. payment standard (99%)$1,630
-Principal and interest-$904
Loan amount$143,052
Down payment$35,763
Rate6.50%
Term30 years
-Operating costs-$516
Property taxes-$179
Insurance-$175
Utilities$0
HOA$0
Management-$162
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,074(72.9% ROI)
Projected value
$192,564
Return breakdown
Property appreciation+$13,749
Loan principal paid down+$5,125
Rental cash flow+$7,200
5-year hold
+$44,637(124.8% ROI)
Projected value
$202,313
Return breakdown
Property appreciation+$23,498
Loan principal paid down+$9,140
Rental cash flow+$12,000
10-year hold
+$95,861(268.0% ROI)
Projected value
$228,898
Return breakdown
Property appreciation+$50,083
Loan principal paid down+$21,778
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.30
1 BR
1.22
2 BR
1.02
3 BR
1.11
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 68123 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 68123 (Bellevue, NE) is $1,650 a month. That is up 7.8% from $1,530 in FY 2026. Bellevue 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 15 ZIP codes in Sarpy County, 68123 is tied for the 6th-highest two-bedroom rent (county range $1,330–$2,050). The median county two-bedroom FMR in Nebraska is $1,014, so ZIP 68123 is 63% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 68123
BedroomsFY 2027Change90–110% range
Studio$1,330+9.0%$1,197–$1,463
1BR$1,390+8.6%$1,251–$1,529
2BR$1,650+7.8%$1,485–$1,815
3BR$2,190+7.9%$1,971–$2,409
4BR$2,480+8.3%$2,232–$2,728

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 68123
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,330$1,390$1,650$2,190$2,480
FY 2026$1,220$1,280$1,530$2,030$2,290
FY 2025$1,070$1,130$1,360$1,810$2,010
FY 2024$990$1,070$1,290$1,720$1,910
FY 2023$870$960$1,170$1,570$1,740

Two-bedroom rent in nearby Sarpy County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 68123
68056$1,600−3.0%
68059$1,600−3.0%
68069$1,540−6.7%
68113$1,820+10.3%
68123Current$1,650—
68128$1,560−5.5%
68133$1,6500.0%
68136$2,050+24.2%
68137$1,730+4.8%
68138$1,430−13.3%
68147$1,520−7.9%
68157$1,750+6.1%

Questions about ZIP 68123 rents

How much will Section 8 pay for a two-bedroom in ZIP 68123?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,650, that basic range is $1,485 to $1,815 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 68123 in?

ZIP 68123 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 68123 for FY 2027?

The two-bedroom FMR rose 7.8%, from $1,530 in FY 2026 to $1,650 in FY 2027. Since FY 2023 it has risen 41.0%.

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