FY2027 Small Area FMR · Council Bluffs, IA

ZIP 51501 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 51501 (Council Bluffs, IA) is $1,310 a month, up 8.3% from FY2026. That is 10% below the Omaha-Council Bluffs, NE-IA area-wide FMR of $1,450.

2-bedroom SAFMR$1,310per month ▲ 8.3%

Area-wide 2 BR FMR$1,450Omaha-Council Bluffs, NE-IA

Rank in the area65thof 134 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,179

2 BR Small Area FMR$1,310

110% of SAFMR$1,441

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,050▲ 9.4%

1 BR$1,100▲ 7.8%

2 BR$1,310▲ 8.3%

3 BR$1,740▲ 8.8%

4 BR$1,970▲ 8.8%

FY2027 FY2026

Where 51501 sits in the Omaha-Council Bluffs, NE-IA area

Of the 134 ZIP codes HUD lists for the area, 51501 has the 65th highest two-bedroom Small Area FMR. Omaha-Council Bluffs, NE-IA is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2023), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,179 and $1,441 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,050	$945 – $1,155	$1,167	$960
1 bedroom	$1,100	$990 – $1,210	$1,219	$1,020
2 bedrooms	$1,310	$1,179 – $1,441	$1,450	$1,210
3 bedrooms	$1,740	$1,566 – $1,914	$1,924	$1,600
4 bedrooms	$1,970	$1,773 – $2,167	$2,179	$1,810

A household renting a two-bedroom home at the Small Area FMR of $1,310 needs about $52,400 a year to keep housing costs at 30% of income. The area median family income is $114,000 and the 80% low-income limit for four people is $91,200. ZIP code 51501 lies mainly in Pottawattamie County. See the Omaha-Council Bluffs, NE-IA metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
68108	Omaha	2.8 mi	$1,450
68102	Omaha	3.7 mi	$1,790
68182	Omaha	3.8 mi	$1,410
68183	Omaha	3.8 mi	$1,460
68107	Omaha	4.1 mi	$1,350
68178	Omaha	4.5 mi	$1,180

Questions

What is the Fair Market Rent for ZIP code 51501?

HUD's FY2027 Small Area Fair Market Rents for 51501 are $1,050 (studio), $1,100 (1 BR), $1,310 (2 BR), $1,740 (3 BR) and $1,970 (4 BR) a month.

What is the Section 8 payment standard in 51501?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 51501 that range is $1,179 to $1,441 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 51501?

The FY2026 income limits of the Omaha-Council Bluffs, NE-IA area apply: median family income $114,000, low-income (80%) limit $91,200 for a family of four.