Location: Valley County, NE | Metro: Valley County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 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 Fair Market Rent (FMR) for ZIP code 68837 in fiscal year 2026 is set at $970. This figure represents the payment standard for Section 8 housing vouchers in the area, meaning it's the maximum amount the government will pay towards your tenant's rent. However, it does not dictate the actual rent you can charge; rather, it ensures that the rent is reasonable and comparable to market rates.
In ZIP 68837, the FMR serves as a benchmark to ensure that rents charged under the Section 8 program do not exceed typical market levels. Given that the local median rent is listed as N/A, it's important to understand that the FMR of $970 is designed to reflect the average rent for a two-bedroom apartment in the area. If the local median rent were higher, you would need to adjust your pricing accordingly to remain competitive while still being eligible for the Section 8 program.
The 23.9% of the population renting in ZIP 68837 indicates a significant demand for rental properties. This suggests that there is a steady pool of potential tenants who might be interested in your property. However, the acquisition cost for rental properties in the area is also listed as N/A, which implies that you should conduct thorough research on current property values to determine a fair price for your investment.
To ensure success with your first Section 8 rental, verify that your property meets all the necessary quality standards and inspection requirements. The Housing Quality Standards (HQS) must be met to qualify for the Section 8 program. These standards cover a wide range of criteria including safety, health, and structural soundness. Ensuring compliance with these standards upfront will save you time and money in the long run.
In summary, the FMR of $970 provides a clear guideline for the maximum subsidy you can receive. With a substantial 23.9% of renters in the area, demand is present. Before making your decision, confirm that your property complies with the HQS to avoid future complications.
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.