Location: Garden County, NE | Metro: Cheyenne 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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $161,530 | 0.63% | D |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 69149, which encompasses Lodgepole, NE, and parts of Cheyenne and Garden Counties, offers a unique opportunity for real-estate investors. According to the latest HUD Fair Market Rent (FMR) data for fiscal year 2026, the FMR for the area is set at $960 per month. This figure represents the maximum amount that landlords can charge voucher holders for rent.
In contrast, the market rent as reported by the Census American Community Survey stands at $783 per month. This indicates that voucher tenants will typically cashflow at the FMR rate, providing landlords with a stable income stream that exceeds the average market rent. The difference between the FMR and market rent is $177, suggesting that landlords can expect a positive cashflow when renting to voucher holders at the FMR rate.
To further analyze the investment potential, consider the median home value in the area, which is $167,406. Using the FMR of $960, the rent-to-price ratio is approximately 0.69%, calculated as ($960 * 12) / $167,406. This ratio is indicative of the annual rental yield relative to the property's value, offering insight into the financial viability of rental properties versus purchasing.
The days on market (DOM) and the percentage of price cuts are not applicable (N/A) for this area, but given the positive cashflow dynamics, these metrics are less critical for determining the attractiveness of the market for investors. The primary focus should be on the consistent and reliable income generated from voucher tenants.
The strongest angle for investors in ZIP 69149 is the cashflow potential. With the HUD FMR significantly exceeding the local market rent, landlords can secure steady income while also benefiting from the stability offered by government-backed vouchers.
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.