Location: Gage County, NE | Metro: Gage County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
U.S. Census Bureau data (2024)
The ZIP code 68422 presents an interesting scenario when viewed from a renter's perspective. Given the median household income of $93,750, it is crucial to analyze whether residents can comfortably afford the market rate rent of $1,116 per month, as reported by the Census ACS.
A household earning the median income of $93,750 would have a monthly income of approximately $7,812.50. At $1,116 per month, rent constitutes about 14.3% of their monthly income, which is generally considered affordable under most standards. However, this calculation assumes no other significant expenses, which is unlikely in reality.
Comparatively, the Fair Market Rent (FMR) standard for the metro area in fiscal year 2026 is set at $1,360. This figure is higher than the market rate, indicating that landlords who accept Section 8 vouchers could potentially receive slightly higher rents than those who do not participate in the program. The discrepancy between the actual market rate and the FMR suggests a financial cushion for voucher recipients, but also highlights a potential challenge for landlords seeking to maximize rental income.
With only 14.8% of the 818 residents being renters, the competition for tenants is relatively low. However, this also implies a smaller pool of potential renters, making it important for landlords to consider the benefits and drawbacks of accepting vouchers versus relying on cash-paying tenants.
The affordability gap, where the FMR exceeds the market rate, means that voucher holders might find it easier to secure housing in this ZIP code compared to areas where the market rate equals or exceeds the FMR. For landlords, this translates into a choice: accepting vouchers ensures a steady, government-backed income stream, albeit at a lower rate than the FMR; focusing on cash-paying tenants could yield higher immediate returns but may come with increased vacancy risks given the limited number of renters.
Takeaway: Landlords in ZIP 68422 should consider the stability provided by Section 8 vouchers, especially since they cover more than the current market rate. However, if the goal is to maximize short-term profits and the area has enough cash-paying tenants willing to pay above the market rate, then targeting non-voucher tenants could be beneficial. The decision should weigh the importance of guaranteed payments against the potential for higher immediate rental income.
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.