Location: Phelps County, NE | Metro: Buffalo County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 68836, set at $970 for the metro area fiscal year 2026, represents the payment standard that landlords can expect from the Section 8 Housing Choice Voucher program. This amount is not the total rent you will receive; it's the benchmark used to determine the maximum rent subsidy a tenant can receive. Landlords are allowed to charge slightly above this figure, but the exact amount depends on the voucher holder's contribution, which is typically 30% of their income.
To put this into perspective, the average rent in ZIP 68836, according to recent Census American Community Survey (ACS) data, is $805. The FMR being higher than the local average suggests that landlords participating in the Section 8 program can potentially earn more than the typical market rate.
The demand for rental properties in this area is robust, with 23.8% of residents being renters. This indicates a significant portion of the population relies on rental housing, creating a steady pool of potential tenants. However, it's important to note that the demand for Section 8 vouchers specifically might vary, so it's crucial to understand the local dynamics of the voucher program.
If you're looking to acquire a property in ZIP 68836, the median home value is approximately $271,421. This figure gives you an idea of the typical price range for homes in the area, helping you gauge the investment required for entering the rental market.
Before proceeding with your first Section 8 rental, ensure you verify the availability of vouchers in ZIP 68836. This involves checking with local housing authorities to confirm if there is a waiting list and how long it is. A shorter waiting list means quicker access to tenants, while a longer list could delay occupancy.
In summary, the $970 FMR offers a competitive advantage over the local average rent of $805, supported by a strong 23.8% renter share. With a median home value of $271,421, the acquisition cost is substantial but manageable. The key step to take is verifying the status of the Section 8 voucher waiting list in your area to ensure a smooth transition into this type of rental arrangement.
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.