Location: Lincoln, NE | Metro: Lincoln, NE HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
The median household income in ZIP 68542 (Lincoln, NE) is $63,542, which is 100% higher than the state average. However, the median rent stands at $1,782, significantly above the household income level. This indicates that renters in this area might struggle to afford the market rate without substantial assistance.
The voucher payment standard for Fair Market Rent (FMR) in ZIP 68542 for fiscal year 2024 is set at $1070. This is considerably lower than the median rent, highlighting a significant affordability gap for low-income households.
With a high percentage of renters and a population of 28,542, the competition for affordable housing is intense. Landlords should consider that many tenants may rely heavily on housing vouchers to cover their rent.
Takeaway: Landlords in ZIP 68542 should weigh the benefits of accepting housing vouchers against the potential drawbacks. While vouchers provide a steady and guaranteed income source, the lower payment amount compared to market rates could result in lower profits. Cash-paying tenants might offer higher rents but come with their own challenges, such as greater variability in payment reliability. In this context, landlords must make strategic decisions based on their investment goals and risk tolerance.
Data Sources: FMR data from HUD (2027).
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.