Location: Nuckolls County, NE | Metro: Nuckolls 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 | $1,320 |
| 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 |
|---|---|---|---|---|
| 2BR | $1,010 | $68,950 | 1.46% | A |
| 3BR | $1,320 | $152,045 | 0.87% | C |
U.S. Census Bureau data (2024)
The ZIP code 68961 in Nebraska is primarily characterized by a modest rental market and a smaller proportion of renters compared to homeowners. With a total population of 633, only 18.7% of residents are renters, indicating that this area is not heavily reliant on rental housing. The median household income stands at $55,673, which provides some context for the affordability of housing.
The typical market rent in this ZIP is $497 per month, representing approximately 9.6% of the median household income when annualized. This calculation is derived from multiplying the monthly rent by 12 months and then dividing it by the median household income ($497 * 12 / $55,673 = 0.096 or 9.6%). This suggests that rent is relatively affordable for the average resident.
However, comparing the market rent to the Fair Market Rent (FMR), which is set at $960 per month for fiscal year 2026 in the metro area, reveals that the actual rents in ZIP 68961 are significantly below the FMR. This discrepancy indicates that landlords might have flexibility in setting rents above the current market rate but still below the FMR, potentially attracting tenants who qualify for housing vouchers.
The expected tenant profile for landlords in this ZIP would likely include individuals or families who rely on housing vouchers due to the lower market rent and the potential for deeper voucher demand despite the smaller overall number of renters. Landlords should prepare for a mix of tenants, including those with stable incomes who can afford the $497 rent without assistance and those who require housing vouchers to meet their monthly payments. The latter group will be particularly interested in properties where the rent is close to or slightly below the $960 FMR threshold, making it a strategic point for landlords to consider when pricing their units.
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.