Location: Knox County, NE | Metro: Antelope County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The ZIP code 68773 is not predominantly a renter-heavy area. With only 9.2% of the population renting, it leans more towards being a homeowner-dominated area. This means that the demand for rental properties using Section 8 vouchers might be relatively low compared to areas with higher percentages of renters.
The median household income in ZIP 68773 stands at $51,607. Without specific market rent data, we cannot provide an exact percentage of how much of the local income goes toward rent. However, we can compare the median income to the Fair Market Rent (FMR) figure of $960, which is the amount set by HUD for the metro area for fiscal year 2026.
To understand the impact of this FMR on potential tenants, let's calculate the annual rent cost based on the FMR. At $960 per month, the annual rent would be $11,520. This represents approximately 22.3% of the median household income in ZIP 68773. For context, a common rule of thumb is that housing costs should not exceed 30% of a household's income. Therefore, while the rent is high relative to income, it still falls within acceptable ranges for affordability.
The tenant profile in ZIP 68773 will likely consist of individuals and families who are eligible for Section 8 vouchers due to their lower income levels. Landlords should expect to have tenants who rely on government assistance to cover a significant portion of their rent. It's important for landlords to ensure they meet all the requirements for participating in the Section 8 program to avoid any legal issues and to maximize the chances of securing a steady stream of rental income.
Given the low percentage of renters and the relatively high rent-to-income ratio, landlords in ZIP 68773 may face competition from homeownership opportunities. However, for those willing to navigate the complexities of the Section 8 program, there remains a viable market for rental properties, particularly those that are well-maintained and priced appropriately according to the FMR guidelines.
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.