Location: Madison County, NE | Metro: Madison 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 | $890 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $212,937 | 0.52% | F |
| 3BR | $1,440 | $279,242 | 0.52% | F |
U.S. Census Bureau data (2024)
ZIP code 68715, located in Battle Creek, NE, is situated within the Madison County, NE metro area. The Fair Market Rent (FMR) for this ZIP is set at $1,000 for fiscal year 2026, which is notably higher than the actual market rent of $869. This suggests that the rental market in 68715 may be somewhat undervalued compared to what HUD considers fair for the area.
The median home value in ZIP 68715 stands at $276,565, indicating a moderate cost of living relative to other ZIP codes in Madison County. However, when juxtaposed with the renter share of 17.4%, it becomes evident that there is a significant portion of the population renting rather than owning homes. This combination of factors—below FMR market rents and a substantial renter share—points to a potential value pocket for Section 8 participants.
A value pocket is an area where the cost of housing is lower than expected, making it attractive for those seeking affordable options. In 68715, the discrepancy between the FMR and the actual market rent, along with the above-average renter share, suggests that this ZIP could be particularly appealing to tenants eligible for Section 8 assistance. The lower-than-FMR rental prices mean that Section 8 vouchers can cover a larger portion of the rent, thus benefiting both tenants and landlords who can attract stable, government-assisted renters.
While the median home value is not exceptionally low, it remains competitive within the county. This makes 68715 neither a premium sub-market nor a highly distressed area but rather a balanced neighborhood offering opportunities for both landlords and small-portfolio investors looking to serve a mix of homeowners and renters.
To summarize, ZIP 68715 appears to be a value pocket within the Madison County, NE metro. The $1,000 FMR exceeds the $869 market rent, and the 17.4% renter share indicates a favorable environment for Section 8 participation, which can be beneficial for landlords willing to accept housing assistance payments.
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.