Location: Merrick County, NE | Metro: Hall County, NE HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,660 | $362,618 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 68872 has a population of 992 individuals, with 16.4% being renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the pool of Section 8 tenants is relatively smaller compared to other areas with higher rental percentages.
The median household income in this ZIP code is $84,500, which provides context for the affordability of housing. The market rent for the area stands at $1,411 per month. To understand how this compares to the average income, we can calculate that typical rent consumes approximately 16.6% of the median monthly income, assuming a 12-month distribution of the annual income. This is derived from dividing the monthly rent ($1,411) by the monthly equivalent of the median household income ($84,500 / 12 ≈ $7,041).
Furthermore, the Fair Market Rent (FMR) for the ZIP code 68872 is set at $1,090 for fiscal year 2024. This means that the market rent exceeds the FMR by about $321, indicating that landlords may find it challenging to attract Section 8 tenants due to the higher rent prices compared to the government-set standards.
A landlord in this ZIP code should expect a tenant profile that includes individuals who might struggle to afford the local market rent without assistance. These tenants will likely have a household income below the median, possibly relying on Section 8 vouchers to subsidize their rent payments. However, given the relatively low percentage of renters and the higher market rents, landlords must be prepared to offer competitive pricing or additional amenities to attract and retain tenants eligible for Section 8 vouchers.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.