Location: Saunders County, NE | Metro: Lincoln, NE HUD Metro FMR Area
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 | $1,120 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $248,887 | 0.56% | F |
| 3BR | $1,870 | $317,618 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 68366, located in Greenwood, NE, has a population of 957 residents. Only 9.7% of these residents are renters, indicating that this area is predominantly homeowner-dominated rather than renter-heavy. This characteristic suggests that the demand for rental properties, particularly those accepting Section 8 vouchers, is relatively low compared to areas with higher percentages of renters.
The median household income in this ZIP code is $90,952, which provides context for the affordability of housing. The market rent for this area is $1,283 per month, representing approximately 17.4% of the median household income. This percentage is calculated by dividing the monthly rent by the annual median income and multiplying by 12 to get the monthly equivalent. In comparison, the Fair Market Rent (FMR) for ZIP 68366, as set by HUD for FY 2024, is $1,180. This means that the market rent exceeds the FMR by about $103 per month.
Given the income levels and the cost of living, landlords in ZIP 68366 can expect tenants who are likely to be financially stable and may not solely rely on housing vouchers. These tenants will typically have additional sources of income to cover the difference between the FMR and the actual market rent. Landlords should prepare for a tenant pool that is capable of paying slightly above the FMR but below the market rent, reflecting the local economic conditions and housing market dynamics.
To summarize, the area is not characterized by deep voucher demand due to its low percentage of renters and relatively high median household income. Landlords should anticipate a tenant base that is financially secure and able to contribute to the local rental market at rates close to the FMR but not necessarily at the highest market rents.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.