Location: Sherman County, NE | Metro: Hall County, NE HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 68869 are governed by the Specific Area Fair Market Rent (SAFMR) for a two-bedroom apartment, which is set at $990 per month for fiscal year 2024. This SAFMR is specifically tailored for this ZIP code, reflecting the unique cost dynamics of the area. In contrast, the local market rent for a similar unit, based on Census American Community Survey (ACS) data, averages $872 per month.
A landlord participating in the Section 8 program will receive a rental subsidy from the government to cover the difference between the tenant's contribution and the total rent. For a two-bedroom unit in ZIP 68869, the tenant is responsible for paying 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,650 (a figure often used for such calculations), the tenant would contribute approximately $495 per month.
The remaining amount is subsidized by the Housing Choice Voucher Program. Therefore, for a two-bedroom unit at the SAFMR of $990, the voucher would cover the balance of $495. However, it's important to note that the voucher payment also includes utility allowances. These allowances can vary but typically add around $200 to the reimbursement. Thus, the total reimbursement from the voucher program could be estimated at $695 per month.
This means that if a landlord rents out a two-bedroom unit at the SAFMR rate of $990, they would receive a total of $695 from the voucher program plus the $495 tenant contribution, equaling the full $990. However, given the local market rent is $872, there is a potential surplus for landlords who participate in the Section 8 program. The surplus is calculated as follows:
$990 (SAFMR) - $872 (local market rent) = $118 surplus per month. This surplus indicates that landlords renting at the market rate would receive an additional $118 beyond what they might expect from non-voucher tenants. It's crucial to understand that this calculation assumes the local market rent accurately reflects the average rent charged for two-bedroom units in ZIP 68869.
In summary, landlords in ZIP 68869 who accept Section 8 vouchers for a two-bedroom apartment can expect a higher reimbursement compared to the local market rent, resulting in a monthly surplus of $118.
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.