Location: Jefferson County, NE | Metro: Gage County, NE
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,420 | $265,410 | 0.54% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP 68342 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is $960. This figure is significantly higher than the local market rent, which runs at approximately $500 according to the latest Census ACS data.
A Section 8 voucher does not cover the entire SAFMR amount. Instead, it reimburses landlords based on the voucher holder's contribution plus any utility allowances. The tenant's portion is typically 30% of their income, which must be verified and cannot exceed the maximum income limit for the household size and location. Utility allowances vary but are usually around $200 for a two-bedroom unit, depending on the specifics of the housing authority’s guidelines in ZIP 68342.
To walk you through the actual payment process, if a tenant has an income that results in a monthly contribution of $200 towards rent, and the utility allowance is $200, then the total reimbursement from the housing authority would be $400. This means the landlord receives the tenant's $200 contribution plus the $200 utility allowance, totaling $400 per month. However, the SAFMR of $960 is the maximum amount that can be reimbursed, so if the local market rent is lower, the reimbursement will be adjusted accordingly.
In ZIP 68342, where the local market rent is $500, the landlord would receive the full $500, assuming the tenant’s portion and utility allowance together do not exceed this amount. If the combined amount is less than $500, the landlord would still receive $500 as the market rent is below the SAFMR, making the voucher cover the entire rent without any surplus or gap.
The typical reimbursement gap or surplus for a two-bedroom unit in ZIP 68342 is non-existent given the current market conditions. Since the local market rent is well below the SAFMR, there is no financial shortfall for landlords accepting Section 8 vouchers. In fact, landlords might find themselves in a slight surplus position, as the voucher system ensures they receive the full market rent amount, even if it is below the SAFMR threshold.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.