Location: Hitchcock County, NE | Metro: Chase 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 | $1,220 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $108,211 | 0.93% | C |
| 3BR | $1,220 | $175,346 | 0.7% | D |
U.S. Census Bureau data (2024)
The market in Wauneta, Nebraska, represented by ZIP code 69045, reveals a dynamic equilibrium between supply and demand, leaning slightly towards supply outpacing demand. This inference is drawn from the Federal Market Rent (FMR) of $960 for fiscal year 2026, which is notably higher than the current market rent of $494 based on Census ACS data. The disparity suggests that landlords might be facing some challenges in achieving rents that match government standards, indicative of a supply surplus.
The median home value stands at $156,851. While this figure provides insight into the overall property values in the area, it doesn't directly indicate whether there's pressure on housing prices. However, the 32.1% renter share highlights a significant portion of the population preferring rental accommodation over homeownership. This trend can exert long-term pressure on the rental market, as a substantial number of residents will continue to seek rental properties rather than purchasing homes. In such an environment, landlords should expect ongoing competition among rental properties, which could lead to periodic adjustments in rental pricing to remain attractive to tenants.
The lack of data on price-cut share and days on market (DOM) for sales indicates that the residential market is relatively stable, without significant fluctuations in pricing or rapid changes in inventory levels. This stability is crucial for small-portfolio investors and landlords who aim to maintain consistent cash flows and avoid frequent price adjustments.
In summary, the ZIP 69045 market presents a scenario where supply slightly exceeds demand, particularly in the rental sector. Landlords must be prepared to manage their properties competitively to attract and retain tenants in a market where nearly one-third of the population opts for rentals. The median home value and renter share provide a snapshot of the current dynamics, suggesting a balanced but evolving market environment.
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.