Location: York County, NE | Metro: Fillmore 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 | $930 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $145,358 | 0.89% | C |
| 3BR | $1,740 | $212,630 | 0.82% | C |
U.S. Census Bureau data (2024)
The median income in Exeter, NE, represented by ZIP code 68351, stands at $76,583. This figure provides a baseline for assessing housing affordability. The market rate for rent, according to Census ACS data, is set at $850 per month. Given the median income, it becomes evident that a household in Exeter would find it challenging to comfortably afford this rate without significant financial strain.
To further illustrate the challenge, let's consider the Federal Market Rent (FMR) standard, which for the metro area in fiscal year 2026 is $1,020. This standard represents the maximum amount that a Section 8 voucher can cover. The disparity between the market rate ($850) and the voucher payment standard ($1,020) suggests that voucher holders have a higher threshold for affordable housing, making them a potentially attractive tenant base for landlords.
With 18.2% of the population being renters and a total population of 834, the rental market in Exeter is relatively small but competitive. The affordability gap between the median income and both the market rate and the FMR standard means that many potential renters may struggle to find housing they can afford without assistance. This situation could lead to increased competition among landlords for tenants who are able to pay the market rate or those with vouchers that cover a larger portion of the rent.
For landlords considering their strategy, focusing on attracting voucher holders might be beneficial. Vouchers ensure a steady and reliable source of income, as they are directly paid by the government. However, landlords should also prepare to compete with others offering similar accommodations, especially if the demand for affordable housing outstrips supply. A strategic approach would involve understanding the local rental dynamics and possibly adjusting property offerings to better align with the needs of voucher recipients or those who can afford the market rate.
In summary, the affordability gap in Exeter, NE, highlights the importance of landlords considering both voucher and cash-pay strategies. By understanding the local economic conditions and the available financial assistance, landlords can make informed decisions to maximize occupancy and profitability in a competitive market.
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.