At June 2026, ZIP 68116’s Zillow ZORI was $1,809 per month. This is a ZIP-level typical observed asking-rent index blended across rental types, rather than a record of every listing or signed lease. Exact same-month history shows a 0.7% increase over the one-year period, compared with annualized gains of 2.4% over the longer three-year path and 4.7% across five years. The recent direction therefore confirms a still-positive rent path, but its pace has slowed materially from the earlier multi-year measurements. That contrast is more decision-relevant than treating one current asking-rent reading as a trend forecast.
The history series is complete for its available window: 64 observations produced 63 consecutive monthly returns with 100% coverage. Monthly rent movements translate to 1.7% annualized variability, a low level that supports greater confidence that the current ZORI is not an isolated swing. Separately, the worst observed peak-to-trough decline was only 0.6%, indicating limited historical downside within this measured series. Transparent national discovery ranks among history-eligible ZIPs place stability at 24, balanced performance at 751, and momentum at 1,767, where lower ranks are stronger. These are backward-looking measurements, not forecasts or investment recommendations.
Different rent sources answer different questions. The matched Census ZCTA’s ACS 2024 five-year survey reports a $1,522 median gross rent for occupied renter homes, including selected utilities; it is 18.9% below Zillow’s current asking-rent index. A ZCTA is a statistical area and is not identical to a USPS delivery ZIP, even though this five-digit label is both the Zillow ZIP market identifier and the Census match. HUD’s $1,650 two-bedroom FMR/SAFMR is an administrative bedroom-specific standard, not asking rent, and sits 9.6% below ZORI. Applying the local HUD bedroom ladder to ZIP ZORI produces modelled monthly estimates of $1,436 for a studio, $1,524 for one bedroom, $1,809 for two bedrooms, $2,401 for three bedrooms, and $2,708 for four bedrooms. These are modelled estimates, never measured bedroom rents.
Income and burden evidence adds an important distributional limit. The ACS ZCTA median household income is $121,165, with a stated margin of error of $7,588. Annualizing the current asking-rent index and applying a 30% screen produces required household income of $72,360; the same arithmetic places annualized asking rent at 17.9% of the reported median household income. This screen is arithmetic, not advice and not an applicant qualification rule. Within the ACS renter-household universe, 1,204 of 3,053 renter households, or 39.4%, reported spending at least the threshold share of income on rent. That aggregate burden result cannot establish affordability or payment stress for any particular household or unit.
The matched ACS ZCTA shows 345 vacant housing units, a 2.6% vacancy rate, and 245 vacancies designated for rent. Its renter share is 23.6%, while the physical stock includes 10,359 single-family units and 896 units in large multifamily structures. These figures describe the ZCTA’s surveyed housing stock and vacancy classifications, not current availability at an individual address. In particular, vacant-for-rent counts do not indicate lease terms, asking prices, condition, bedroom mix, concessions, or whether any specific property is market-ready. The stock mix and renter share provide context for interpreting a blended rent index, but they do not convert the index into a unit-level comparable.
Broader-area figures place the ZIP’s asking-rent index above each named context, but those comparisons remain wider-market context rather than ZIP substitutes: Omaha city context rent is $1,453, Douglas County context rent is $1,448, and Omaha-Council Bluffs, NE-IA metro context rent is $1,444. The ZIP’s higher index may reflect the composition of rentals represented in ZORI as well as geographic differences, so it should not be read as a direct price premium for a matching bedroom, building type, or lease structure. City, county, and metro measures have their own geographic scope and should remain separate from ZIP-specific Zillow, ACS ZCTA, HUD, and Redfin evidence.
The direct rolling-three-month Redfin ZIP resale observation presents a notably active for-sale market, not rental transactions. Median sold price was $370,956, up 1.5% from a year earlier; 162 homes sold with a median 18 days on market. Inventory was 31 homes and months of supply stood at 0.6, while the average sale-to-list ratio was 101.3% and 53.9% of sales closed above list price. Those resale liquidity and pricing signals contrast with the subdued recent rent increase, challenging any assumption that steady resale conditions necessarily coincide with fast asking-rent growth. Annualized ZIP ZORI divided by median sold price equals a 5.9% cross-source screening ratio only; it is not a measure of property economics or a return outcome.
The main limits are differences in date, geography, population, and purpose across the sources. Zillow measures blended asking rents, ACS describes surveyed occupied renter homes, HUD supplies administrative standards, and Redfin measures ZIP resale activity. Historical stability can increase confidence in the representativeness of a current index snapshot, but it cannot determine the next rent movement. At the property level, the relevant checks are the actual asking rent, bedroom count, utility treatment, lease duration, concessions, structure type, condition, availability date, and comparable resale terms. The central question is whether those unit-specific facts align with the aggregate ZIP signals rather than whether any one aggregate series can stand in for the property.