Location: Knox County, NE | Metro: Knox County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 68783 are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $960. This is the maximum amount that the Housing Choice Voucher program will pay for a two-bedroom unit in this area.
In contrast, the local market rent for a two-bedroom unit in ZIP 68783 is considerably lower, running at an average of $550 according to Census ACS data. This means that landlords participating in the Section 8 program can expect a higher rental income compared to the general market, but it's important to understand how the voucher payment structure works.
A voucher payment consists of two parts: the tenant contribution and the utility allowance, both of which are factored into the total reimbursement. The tenant contribution is generally 30% of their household income. For example, if a tenant's monthly income is $1,000, they would contribute $300 towards the rent.
The utility allowance is an additional fixed amount provided by the program to cover utilities. This varies based on the region and type of dwelling, but let's assume it adds up to around $150 per month for a two-bedroom apartment in ZIP 68783.
So, for a two-bedroom apartment with a SAFMR of $960, the reimbursement calculation would be as follows:
This means that the government would pay the remaining balance to ensure the landlord receives the full SAFMR of $960. In this case, the government would cover $960 - $450 = $510 of the rent. Therefore, the landlord would receive the full $960 from the voucher program, even though the market rent is only $550.
Given these numbers, landlords in ZIP 68783 participating in the Section 8 program can expect a surplus over the local market rent. Specifically, the surplus would be $960 - $550 = $410 per month for a two-bedroom unit. This makes Section 8 participation potentially lucrative for landlords in this ZIP code, as they receive a higher rent than the local market average.
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.