Location: Valley County, NE | Metro: Greeley 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)
In ZIP code 68859, there are several potential risks for first-time Section 8 landlords. Tenant turnover is a significant concern, as the market rent stands at $618, which is notably lower than the Fair Market Rent (FMR) of $960 for fiscal year 2026 in the metropolitan area. This disparity suggests that tenants might be less committed to long-term leases, leading to higher churn rates.
Vacancy exposure is another issue, given the lack of data on days on market (DOM). Without this information, it's challenging to predict how quickly a rental property can be filled, especially when relying on Section 8 vouchers. A prolonged vacancy period can result in lost income and increased maintenance costs.
The deferred-maintenance exposure is substantial, considering the typical home value of $171,873 and the median income of $50,000. Landlords may find themselves shouldering unexpected repair and renovation expenses, which can strain cash flows and reduce profitability.
However, these risks are somewhat mitigated by the high renter share of 15.3%. High renter density often translates into greater demand for housing vouchers, which can help fill vacancies more rapidly. The concentration of renters also implies a robust local rental market, potentially providing additional opportunities for landlords to diversify their tenant base beyond Section 8.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.