Location: Clay County, NE | Metro: Adams County, NE
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 | $780 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,300 | $324,236 | 0.4% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 68941 stands at $72,460, which places significant constraints on the financial capabilities of households when it comes to housing costs. The market rate for rent, according to the Census ACS, is $783. This means that a typical household would need to allocate a substantial portion of their income towards rent, making it challenging but still feasible under normal circumstances.
However, the situation becomes more complex when considering the Federal Market Rent (FMR) standard of $970 for the metro area in fiscal year 2026. This figure represents the amount that Section 8 vouchers will cover, and it is notably higher than the current market rate. For renters, this could be seen as a relief, as it potentially allows them to secure better quality housing or even move into areas with a higher cost of living without bearing the full burden of the rent themselves.
The ZIP code has a relatively low percentage of renters at 19.3%, with a total population of 683. This indicates a competitive environment for landlords, where attracting tenants might require offering more amenities or maintaining properties at a higher standard. Given the disparity between the market rate and the FMR, landlords who accept Section 8 vouchers could find themselves in a more favorable position compared to those relying solely on cash-paying tenants.
The affordability gap between the median income and the FMR highlights the potential benefits for landlords who choose to participate in the voucher program. While the market rate of $783 is already a stretch for many households, the FMR of $970 offers a more generous subsidy that can help landlords maintain or even increase rental rates. Moreover, the stability and reliability of voucher payments can provide a consistent revenue stream, which is attractive for both landlords and small-portfolio investors.
In summary, for landlords in ZIP 68941, accepting Section 8 vouchers can be a strategic advantage. It allows them to cater to a broader range of tenants, including those who might otherwise struggle to afford the current market rate. Additionally, it ensures a more stable income compared to the variability often associated with cash-paying tenants. Landlords should consider these factors when deciding on their rental strategies.
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.