Location: Custer County, NE | Metro: Buffalo County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The median income in ZIP code 68855 stands at $78,750, while the market rate for rent is $879 according to Census ACS data. This indicates a significant affordability gap for households in this area. When comparing the market rate to the Fair Market Rent (FMR) set at $960 for metro FY 2026, it becomes evident that the rental market is slightly below the voucher payment standard. However, this difference is minimal and may not significantly impact the decision-making process for tenants who qualify for housing vouchers.
With only 20.4% of the 400 residents being renters, competition among landlords is likely to be fierce. The limited number of renters means that landlords must carefully consider their pricing and tenant selection strategies to maximize occupancy and profitability. Given that the median income is lower than the combined cost of the market rate and potential additional expenses, many renters may find it challenging to pay out-of-pocket without assistance.
The takeaway for landlords considering whether to accept voucher tenants or focus on cash-paying ones is clear. Due to the affordability gap and the relatively low number of renters, accepting voucher tenants could provide a stable source of income. Vouchers ensure that tenants receive a portion of their rent subsidized, reducing the risk of non-payment and providing a consistent cash flow. Landlords should also note that the FMR is close to the market rate, meaning that the financial burden of accepting voucher tenants is minimal. In conclusion, landlords in ZIP 68855 should seriously consider adopting a strategy that includes both voucher and cash-paying tenants to leverage the local market dynamics effectively.
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.