Location: Wayne County, NE | Metro: Cedar County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 68745 in fiscal year 2024 is set at $910. This figure represents the payment standard for Section 8 rentals, which is the maximum amount the government will pay towards a tenant's rent. It does not mean that you will receive $910 as your total rent; rather, it caps the subsidy portion of the rent.
To put this into context, the average rent for the area is $788, according to recent Census Bureau data. The Section 8 program aims to cover a significant portion of the rent but not exceed the FMR. For instance, if your property's market rent is $800, the government would pay up to $910 to cover the tenant's portion, ensuring the total rent does not exceed the market rate.
The 26.3% renter share indicates that nearly one-quarter of the households in 68745 are renters, suggesting a moderate demand for rental properties. However, this also implies that there might be a limited pool of tenants who qualify for the Section 8 program due to income restrictions.
If you're looking to acquire a new property in this ZIP code, the median home value stands at $209,856. This is the typical price range you can expect when purchasing a home, which could serve as a starting point for your investment analysis. Keep in mind that Section 8 properties often require compliance with certain maintenance standards and regular inspections, which can affect your overall costs and management practices.
Before you decide to enter the Section 8 market, ensure you verify the specific eligibility requirements for your property type and location. These include understanding the rent limits, the required maintenance standards, and the process for applying to become a Section 8 landlord. This verification step is crucial to avoid any surprises and to ensure that your investment aligns with your financial goals.
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.