Location: Gage 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 | $900 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,640 | $550,255 | 0.3% | F |
U.S. Census Bureau data (2024)
The ZIP code 68404, located in a rural area, stands out due to its unique demographic and economic characteristics. With only 1,039 residents, it has a low rental rate of 3.6%, indicating that most residents own their homes. The median income for households in this ZIP is $112,643, which is relatively high compared to national averages. Additionally, the median home value is $525,616, reflecting a strong property market.
Despite these indicators, the housing voucher program remains a critical component of the local rental market. The Fair Market Rent (FMR) for ZIP 68404 in fiscal year 2024 is set at $1080, providing a benchmark for rental costs. However, specific market rent data is currently unavailable, making it challenging to assess the exact impact of vouchers on the local rental rates. Landlords should be aware that the voucher amount is designed to cover a significant portion of typical rental units, ensuring that tenants can afford to live in the area without financial strain.
Given the high median income and median home values, along with the limited number of renters, ZIP 68404 appears to have a stable housing market. The robust financial standing of the majority of residents suggests that the local economy is unlikely to experience sudden shifts that could destabilize the housing situation. For small-portfolio investors and landlords, this stability offers a predictable environment for managing properties and considering investments.
In summary, while the rental market is small, the voucher system supports a niche segment of the population. The lack of precise market rent data means that landlords must rely on the FMR as a guideline. The overall data signature of ZIP 68404 reads as stable, with strong economic fundamentals supporting both homeownership and rental affordability.
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.