Location: Richardson County, NE | Metro: Pawnee County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 68345 reveals a mixed picture for potential landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area, set at $970 for fiscal year 2026, is higher than the current market rent of $908 according to the Census ACS. This suggests that landlords can potentially increase rents to align with the FMR without significant pushback from tenants, given the slight premium over the market rate.
Regarding the affordability of acquisitions, the median home value in ZIP 68345 is $160,646. However, due to the lack of data on days on market (DOM) and the percentage of homes requiring price cuts, it's difficult to assess how competitive the housing market is for acquiring properties. Landlords should conduct further research into local real estate trends to understand the dynamics of property acquisition.
Tenant demand is another critical factor. With a total population of 245 and a renter share of 17.5%, there are only about 43 potential renters in the area. This limited pool of tenants could pose challenges for maintaining occupancy rates and generating consistent rental income.
Verdict: While the opportunity to raise rents slightly above the current market rate exists, the low number of potential renters and the unclear dynamics of the local real estate market make ZIP 68345 a challenging investment choice. Landlords should proceed with caution, ensuring they have a solid understanding of the local market conditions and tenant demand before committing to investments in this area.
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.