Section 8 Fair Market Rent (FMR) for ZIP 68882 - 2027

Location: Nance County, NE | Metro: Howard County, NE HUD Metro FMR Area

Investment Score for ZIP 68882

N/A

Monthly Rent (2BR)

$1,060

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$820
2 Bedrooms	$1,060
3 Bedrooms	$1,270
4 Bedrooms	$1,470
5 Bedrooms	$1,705
6 Bedrooms	$1,910
7 Bedrooms	$2,063
8 Bedrooms	$2,166

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,270	$234,668	0.54%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

401

Median Household Income

$67,778

Housing Units

245

Renter Percentage

17.0%

Occupancy Rate

84.1%

Renter Occupied

The median income in ZIP code 68882 stands at $67,778, which places significant constraints on the average household's ability to pay market-rate rent. At a market rate of $650, the rent constitutes a substantial portion of the monthly budget, especially when considering other living expenses. However, the Federal Market Rent (FMR) standard for voucher payments in the area for fiscal year 2024 is set at $870. This discrepancy highlights a notable affordability gap for renters relying solely on their income versus those who receive rental assistance through vouchers.

Affordability Challenge: For households earning the median income, the $650 market rate represents approximately 10% of their annual income, which is already high given typical affordability guidelines suggesting housing costs should not exceed 30% of gross income. The higher FMR of $870 further strains the financial capabilities of renters without additional support.
Rental Market Dynamics: With only 17.0% of the 401 population being renters, competition among landlords is likely to be fierce. The scarcity of rental properties means that landlords must carefully consider their pricing strategy to attract tenants. Offering a rent close to the market rate of $650 might make units more accessible to cash-paying renters, but it could also mean leaving money on the table compared to the higher FMR rates offered through voucher programs.

The takeaway for landlords is clear: while attracting cash-paying renters at a lower rate might seem appealing due to the smaller pool of potential tenants, the higher payment standards through voucher programs can provide a more stable and lucrative income stream. Landlords should weigh the benefits of accepting Section 8 vouchers against the potential for higher occupancy rates with cash-paying tenants, considering the local economic conditions and the availability of rental assistance.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.