ZIP 68029 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 68029 in the Omaha-Council Bluffs, NE-IA FMR area.

Omaha-Council Bluffs, NE-IA

$1,000Efficiency
$1,0601 bedroom
$1,2602 bedrooms
$1,6703 bedrooms
$1,8604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,000$900$1,100$1,167
1 bedroom$1,060$954$1,166$1,219
2 bedrooms$1,260$1,134$1,386$1,450
3 bedrooms$1,670$1,503$1,837$1,924
4 bedrooms$1,860$1,674$2,046$2,179

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Burt County, NE

$1,000Efficiency
$1,0601 bedroom
$1,2602 bedrooms
$1,6703 bedrooms
$1,8604 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$1,000$900$1,100$734
1 bedroom$1,060$954$1,166$846
2 bedrooms$1,260$1,134$1,386$1,014
3 bedrooms$1,670$1,503$1,837$1,361
4 bedrooms$1,860$1,674$2,046$1,366

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 68029

$77,195average adjusted gross income per tax return (2022)
$49,944average salaries and wages per return
390tax returns filed
20%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00017.9%
$25,000 to $50,00028.2%
$50,000 to $75,00015.4%
$75,000 to $100,00012.8%
$100,000 to $200,00017.9%
$200,000 or more7.7%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 10.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 68029?

HUD's FY2027 Small Area FMRs for ZIP 68029 (Omaha-Council Bluffs, NE-IA) are $1,000 efficiency, $1,060 one bedroom, $1,260 two bedrooms, $1,670 three and $1,860 four bedrooms.

What payment standard can a housing authority set in ZIP 68029?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,134 to $1,386.

How affordable is rent in ZIP 68029?

Tax returns filed from ZIP 68029 reported an average adjusted gross income of $77,195 (2022). A two-bedroom unit at the Small Area FMR costs $15,120 a year, or 20% of that income.