Location: Seward 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 | $990 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,380 | $490,009 | 0.28% | F |
| 3BR | $1,930 | $568,232 | 0.34% | F |
U.S. Census Bureau data (2024)
Investing in Section 8 housing in ZIP code 68428 in Raymond, NE, presents several challenges that must be carefully considered. Firstly, tenant turnover is a significant issue. The market rent for the area stands at $859, while the Fair Market Rent (FMR) for FY 2024 is set at $1600. This disparity can lead to higher turnover rates as tenants seek better rental deals, which in turn increases operational costs for landlords.
Vacancy exposure is another concern. With no data available on days on market (DOM), it's difficult to predict how long a property might remain vacant between tenancies. This uncertainty can impact cash flow and financial stability for small-portfolio investors.
The deferred-maintenance exposure is also notable. Given the typical home value of $574,547 and the median income of $115,000, there may be a strain on maintaining properties up to standard without substantial out-of-pocket expenses. Landlords must be prepared to invest in regular maintenance to ensure compliance with Section 8 requirements.
However, these risks are tempered by the high renter share of 16.3%. A larger percentage of renters typically translates into greater demand for housing vouchers, which can stabilize occupancy rates and provide a reliable source of income. This factor can help mitigate the risks associated with tenant turnover and vacancy exposure.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.