Location: Dodge County, NE | Metro: Colfax County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP 68659 highlights a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,050, while the median market rent is $582 per month. This means that the FMR is $468 higher than the market rent, representing a 80.4% increase over the actual rent.
This gap makes ZIP 68659 a prime location for voucher tenants, transforming it into a yield play for landlords. Given that only 10.6% of the population are renters and the median income is $67,500, the cost of housing voucher tenants below open-market rates can be seen as a strategic advantage. The median housing rent in ZIP 68659 is significantly lower than both the state of Nebraska ($833) and the U.S. ($1,062).
Renters in ZIP 68659 use an estimated 17.17% of their income to cover monthly rent payments, which is about 42% lower than the national average. With the FMR being substantially higher than the market rent, landlords can expect steady income from voucher holders, who will likely occupy units at rates closer to the FMR.
The median annual household income in ZIP 68659 is $48,750, sitting approximately 22% lower than the national median income of $62,843. However, the lower income levels do not necessarily correlate with higher rent burdens; in fact, they suggest that many renters can afford their housing expenses without undue financial strain.
In summary, the gap between FMR and market rent in ZIP 68659 presents a unique opportunity for landlords to benefit from Section 8 vouchers, ensuring a stable tenant base willing to pay closer to the higher FMR rates. This makes the area a promising investment for small-portfolio investors seeking consistent yields.
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.