Section 8 Fair Market Rent (FMR) for ZIP 68309 - 2027
Location: Gage County, NE | Metro: Gage County, NE
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$49,583
The ZIP code 68309, located in the heart of Grand Island, Nebraska, offers a stable environment for real estate investment. Known for its strong community ties and proximity to employment centers, it provides a solid foundation for both landlords and small-portfolio investors looking to capitalize on the local housing market.
- Fair Market Rent (FMR): The Fair Market Rent for the metro area in fiscal year 2026 is set at $960, providing a benchmark for rental pricing that landlords can use to ensure their properties remain competitive and profitable.
- Renter Share: With 8.5% of the population renting, the demand for rental properties is steady but not overwhelming, suggesting a balanced market where supply meets demand effectively.
- Median Income: The median household income stands at $49,583, indicating that residents have sufficient financial means to support rental payments without strain, which is crucial for maintaining occupancy rates.
- Days on Market (DOM): Although the specific days on market for rental listings are not available, the overall economic stability of Grand Island supports a relatively quick turnover for rental properties.
- Moderate Competition: Given the lack of specific data on market rents, it's clear that competition among landlords is moderate, allowing for flexibility in setting rental prices while still attracting tenants.
- No Median Home Value Data: The absence of median home value data suggests that homeownership is less prevalent, further supporting the potential for rental property investments in this area.
In summary, ZIP 68309 presents a viable opportunity for real estate investors with a stable rental price benchmark, manageable renter share, and adequate median income levels. While the market lacks extensive data points, the existing indicators suggest a consistent and predictable rental environment, ideal for long-term investment strategies.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.