Location: Wayne County, NE | Metro: Wayne County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 68790 reveals several key points that landlords and small-portfolio investors should consider before making investment decisions.
First, let's examine if the rent math works. The Fair Market Rent (FMR) for the NE metro area for fiscal year 2026 is set at $980. However, the current market rent based on Census ACS data stands at $792. This indicates that landlords would need to either increase rents to match the FMR or accept a lower rental income, which could affect profitability.
Second, the acquisition affordability must be assessed. With a median home value of $206,235, the cost of entry into this market is relatively low compared to other areas. Unfortunately, the data does not provide insights into the days on market (DOM) or the percentage of homes that have been listed with a price cut. Without these figures, it's challenging to gauge the competitiveness of the housing market and how quickly properties might sell.
Third, we must evaluate the tenant demand. The total population of ZIP 68790 is 931, with 18.3% of residents being renters. This suggests a limited pool of potential tenants, which could impact occupancy rates and the ability to fill vacancies quickly.
Verdict: While the median home value makes acquisition relatively affordable, the discrepancy between the Fair Market Rent and the actual market rent poses a challenge for achieving desired rental yields. Furthermore, the small population size and low renter share indicate that tenant demand is likely to be constrained, which could lead to prolonged vacancy periods and difficulty in maintaining steady cash flows. Therefore, investing in ZIP 68790 requires careful consideration of these factors to ensure long-term viability and profitability.
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.