Section 8 Fair Market Rent (FMR) for ZIP 68506 - 2027
Location: Lincoln, NE | Metro: Lincoln, NE HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,030 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$72,637
Housing Authorities Serving ZIP 68506
The Lincoln, NE area, specifically ZIP code 68506, presents a stable rental market for both landlords and small-portfolio investors. The mix of residents includes a significant portion of renters, making it a viable option for those looking to invest in residential properties.
- Average Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 68506 for fiscal year 2024 is set at $1,150. This figure serves as a benchmark for rental pricing, especially for properties participating in government-assisted housing programs.
- The actual market rent, as measured by the Zillow Observed Rental Index (ZORI), stands slightly above the FMR at $1,173. This indicates that the local rental market is competitive and slightly higher than the government's fair market assessment.
- The median home value in ZIP 68506 is $281,932. This price point suggests a moderate cost of entry for property owners and reflects the overall economic health of the neighborhood.
- Renters make up 35.7% of the population in this ZIP code, indicating a substantial demand for rental properties. This percentage also highlights the diversity of the housing market, with a significant portion of residents preferring to rent rather than own.
- The days on market (DOM) for rental listings in this area average 28 days. This relatively short period suggests that there is a good balance between supply and demand, with properties typically being occupied quickly once they become available.
- The median household income in ZIP 68506 is $72,637. This income level supports a robust rental market, as residents have the financial stability to cover rent payments consistently.
In summary, ZIP 68506 in Lincoln, NE, offers a balanced rental market with a strong demand for housing, reflected in the 35.7% renter share and the quick turnaround time for new rentals. The slight premium of the ZORI over the FMR suggests that landlords can command slightly higher rents than the government's benchmark. With a median home value of $281,932 and median income at $72,637, the area demonstrates a healthy economic foundation, making it a favorable investment opportunity for those interested in the Lincoln real estate market.
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.