Location: Wheeler County, NE | Metro: Greeley 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 | $750 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $264,366 | 0.47% | F |
| 4BR | $1,410 | $360,779 | 0.39% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 68665 is set at $1,090 for the fiscal year 2026. This is the payment standard for Section 8 rental properties in this area, meaning the government will pay up to $1,090 per month for eligible tenants. However, this does not represent the total rent you can charge; it's the maximum amount the government will contribute.
To put this into perspective, the average rent in ZIP 68665 is currently $630 according to the Census Bureau's American Community Survey (ACS). This indicates that the FMR is significantly higher than the typical market rate, which could be advantageous for landlords participating in the Section 8 program.
With an 11.7% share of renters in the area, there is a notable demand for affordable housing options. The FMR helps ensure that these renters have access to suitable accommodation without overburdening landlords with below-market rates.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in ZIP 68665 is approximately $253,106. This figure can help you estimate your initial investment and potential returns, especially when factoring in the guaranteed rental income from the Section 8 program.
Before proceeding, it's crucial to verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary for tenants. Failure to meet HQS could result in disqualification from the program, so confirming compliance is essential before making any financial commitments.
In summary, the FMR of $1,090 provides a clear benchmark for rental payments in ZIP 68665, offering a competitive rate compared to the local average of $630. With an 11.7% renter population and a median home value of $253,106, there is a viable opportunity for landlords to enter the Section 8 market. Ensure your property meets the necessary HQS to avoid complications and guarantee eligibility.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.