Location: Polk County, NE | Metro: Butler County, NE
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 | $770 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,450 | $255,190 | 0.57% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 68658 in the fiscal year 2026 is set at $960. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 housing program, which is not the actual rent you will charge your tenants but the maximum amount HUD will pay towards rent for eligible families.
In ZIP 68658, the local median gross rent is currently listed as N/A, indicating that there might be limited data available on typical rental prices in this area. However, based on the FMR, you can infer that the average market rent should be close to or below $960 for a unit to be competitive within the Section 8 program.
The 7.0% renter share suggests that roughly 7 out of every 100 residents in the area are likely to seek rental assistance through programs such as Section 8. This translates into a significant demand for affordable housing options. With an estimated acquisition cost of $239,463, you can expect to invest this amount to acquire a property suitable for Section 8 tenancy. The acquisition cost takes into account factors such as purchase price, renovations, and other initial expenses needed to bring a property up to the required standards.
Before proceeding with a Section 8 rental in ZIP 68658, it's crucial to verify that the property meets all the necessary inspection criteria set by HUD. These inspections ensure that the rental unit is safe, decent, and sanitary, adhering to specific health and safety standards. This verification step is essential because failing to meet these requirements can result in disqualification from the program, leading to financial losses and wasted time.
To summarize, the FMR of $960 in ZIP 68658 provides a benchmark for the maximum subsidy you can receive per month, while the 7.0% renter share indicates a moderate demand for rental assistance. With an acquisition cost of approximately $239,463, you must ensure the property passes HUD inspections to avoid any issues post-acquisition.
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.