Location: Hamilton County, NE | Metro: Clay 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 | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $110,322 | 0.92% | C |
| 3BR | $1,210 | $165,631 | 0.73% | D |
U.S. Census Bureau data (2024)
The ZIP code 68944 is located in the tranquil town of Harvard, Nebraska, which boasts a small, close-knit community of just 1,252 residents. The area is predominantly owner-occupied, with only 23.2% of the population renting their homes. This indicates a strong sense of permanence among the residents, suggesting a stable environment where people choose to settle long-term. The median household income in this region stands at $69,432, reflecting a middle-class community capable of supporting local businesses and services. The median home value of $134,980 further underscores the affordability and accessibility of homeownership in this area.
Moving into the realm of rental economics, the Fair Market Rent (FMR) set by HUD for the metro area for fiscal year 2026 is $960. However, the actual market rent, as reported by the Census Bureau's American Community Survey, is significantly lower at $738. This disparity between the FMR and the market rent presents an opportunity for landlords and investors involved in Section 8 housing. The lower market rent means that properties can be rented out at the FMR, providing a higher margin for landlords who participate in the Section 8 program.
Given these economic conditions, ZIP 68944 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stability of the community and the guaranteed income through the Section 8 program make it an attractive investment. On the other hand, for those looking to actively manage and improve their properties, there is potential to increase property values and rents over time, given the current affordability and the steady income levels of the residents. Both approaches can benefit from the town's low crime rate and high quality of life, which contribute to tenant retention and a positive rental experience.
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.