Location: Platte County, NE | Metro: Merrick County, NE HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
The ZIP code 68640 is situated in a tranquil suburban neighborhood characterized by a modest population size of 1,212 residents. This area has a relatively low percentage of renters at 21.4%, indicating a primarily owner-occupied community. The median income in this region stands at $68,036, reflecting a middle-class demographic. Median home values are recorded at $198,247, suggesting a stable housing market where properties are valued moderately.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 68640 in fiscal year 2024 is set at $870. In contrast, the market rent based on Census American Community Survey (ACS) data is $850. This slight premium for FMR indicates that Section 8 vouchers can cover a substantial portion of typical rental costs in the area, making it feasible for landlords to participate in the program without significant financial strain.
Considering the investment strategy, ZIP 68640 is well-suited for hands-off voucher operators due to the low percentage of renters and the reasonable alignment between FMR and market rents. However, for hands-on value-add buyers looking to improve and potentially increase property values, the moderate median home value presents an opportunity to enhance properties and benefit from rising real estate prices in a stable, middle-income community.
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.