Section 8 Fair Market Rent (FMR) for ZIP 68406 - 2027

Location: Saline County, NE | Metro: Fillmore County, NE

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$730
1 Bedroom	$920
2 Bedrooms	$1,010
3 Bedrooms	$1,390
4 Bedrooms	$1,400
5 Bedrooms	$1,624
6 Bedrooms	$1,819
7 Bedrooms	$1,965
8 Bedrooms	$2,063

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

468

Median Household Income

$69,318

Housing Units

281

Renter Percentage

14.1%

Occupancy Rate

73.3%

Renter Occupied

A landlord considering ZIP code 68406 for Section 8 investments must follow a structured decision-making process. The first question is whether the Fair Market Rent (FMR) of $960 for the metro area in fiscal year 2026 can cover the debt service on a property valued at $167,941. To determine this, calculate the monthly debt service, which includes mortgage payments, property taxes, insurance, and any other fixed expenses. If the total monthly debt service is less than $960, then the answer is yes; otherwise, it's no.

The second question is to compare the market rent of $675 (as reported by the Census ACS) against the FMR. If the market rent is above $960, then the property is overpriced for Section 8 tenants. If the market rent is at or below $960 but significantly higher, it might still be a good investment due to the potential for higher market rents once the tenant moves out. If the market rent is below $960, the property could be undervalued, making it a strong candidate for purchase.

The third question involves assessing the rental demand. In ZIP 68406, 14.1% of residents are renters, and the number of days on the market (DOM) is not available. This lack of data makes it difficult to assess the speed at which properties are rented. However, given that 14.1% of residents are renters, there is a notable demand for rental properties. If the landlord has access to more detailed local real estate market data, such as the average DOM for rental units, they can make a more informed decision. If the DOM is low, indicating quick leasing, the answer is yes. If the DOM is high, suggesting slower leasing times, the answer is no. Without this information, the answer is it depends on other factors such as the vacancy rate and competition in the area.

To summarize:

If the FMR of $960 clears the debt service on a $167,941 property, proceed to the next question. Otherwise, do not invest.
If the market rent of $675 is above FMR, the property is not suitable for Section 8 tenants. If it's at or below FMR, continue evaluating.
With 14.1% of residents being renters, there is sufficient demand. However, the absence of DOM data means the landlord needs to consider additional local market indicators to decide if the investment is viable.

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.