Location: Johnson County, NE | Metro: Gage County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 68357, located in the Johnson County, NE metro area, reveals several key points for landlords and small-portfolio investors.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2026 is set at $1,090. However, the market rent data is currently unavailable, which makes it difficult to compare the two figures directly. Without a market rent benchmark, it's challenging to determine if the FMR accurately reflects what tenants can afford or what landlords can expect to earn.
Moving on to acquisition affordability, the median home value in ZIP 68357 stands at $292,626. This figure suggests that purchasing a property in this area would be a significant investment. The lack of data on Days on Market (DOM) and the percentage of homes that required price cuts indicates that we cannot assess the current speed of sales or the frequency of price reductions, which are important factors in determining how easy or difficult it is to acquire properties at fair prices.
Regarding tenant demand, the ZIP code has a total population of 347, with 8.2% of residents being renters. This low renter share implies limited demand for rental properties, potentially leading to higher vacancy rates and difficulty in maintaining occupancy levels.
Verdict: Investment in ZIP 68357 presents challenges due to limited tenant demand and high acquisition costs. The median home value of $292,626, combined with a small population and low renter share, does not support a robust rental market. Until market rent data becomes available, it is unclear whether the $1,090 FMR will ensure profitable rental operations. Given these constraints, landlords and small-portfolio investors should proceed with caution and consider diversifying their investments outside of this ZIP code to mitigate risk.
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.