Location: Keith County, NE | Metro: Arthur 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 | $740 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $162,160 | 0.63% | D |
| 3BR | $1,230 | $361,163 | 0.34% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 69147 (Lewellen, NE, Keith County, NE metro) does not fully align with the financial goals of a landlord. The Fair Market Rent (FMR) for the area set at $960 for fiscal year 2026 is higher than the current market rent of $839 based on Census ACS data. This discrepancy suggests that landlords might struggle to achieve the FMR without significant renovations or improvements to properties.
Acquisition in this ZIP code is relatively affordable, with a median home value of $235,336. However, the lack of data on days on market (DOM) and the percentage of homes that were sold at a discount indicates that the local real estate market may be stable but lacks recent transactional data for a comprehensive analysis. This stability could be beneficial for long-term investments, but it also means that quick flips or rapid appreciation might not be realistic expectations.
Tenant demand in ZIP 69147 is modest. With a total population of 706 and a renter share of 26.1%, there are approximately 184 potential renters in the area. This limited pool of tenants could make it challenging to fill vacancies quickly, especially if market rents do not match the affordability of the area's residents.
Based on the analysis, ZIP 69147 presents a mixed picture for landlords and small-portfolio investors. While the acquisition cost is reasonable, the mismatch between FMR and actual market rents, combined with a low population and limited renter base, suggests that this area may not be ideal for those seeking high returns or rapid growth in their rental investments. Instead, it would be better suited for investors looking for stable, long-term holdings with moderate cash flow expectations.
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.