Location: Otoe County, NE | Metro: Otoe 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 | $830 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,510 | $271,326 | 0.56% | F |
U.S. Census Bureau data (2024)
3.0% of the population in ZIP code 68344 are renters, indicating a low demand for rental properties compared to owner-occupied homes. The median home value stands at $231,895, reflecting the overall affordability and value of the housing market in this area. Landlords should note that the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,190, which is the benchmark for determining the maximum allowable rent for Section 8 vouchers. However, the actual market rent, as reported by the Census American Community Survey (ACS), is lower at $725, suggesting that landlords might need to adjust their expectations if they wish to attract tenants in this region.
The median income in ZIP 68344 is $88,942, which is crucial for understanding the economic profile of potential tenants. This figure implies that many residents have the financial capacity to afford higher rents, but it's also important to consider the income eligibility requirements for Section 8, which typically limit participation to those earning below 50% of the area median income. Given the relatively high median income, landlords might find fewer eligible applicants for Section 8 properties, potentially leading to longer vacancy periods.
While data on days on market (DOM) and the percentage of price-cut share are not available, investors can infer that the rental market in 68344 is competitive due to the disparity between FMR and market rent. Landlords must balance their rental pricing to be attractive to tenants while also ensuring profitability. The gap between the $1,190 FMR and the $725 market rent suggests a significant adjustment for landlords participating in the Section 8 program.
Investors considering Section 8 properties in ZIP 68344 should prepare for a challenging tenant pool and possibly lower rental income than what the FMR suggests. The verdict on Section 8 in 68344 is that it is a viable option but requires careful management to remain profitable.
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.