Location: Cheyenne 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 | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $860 | $93,247 | 0.92% | C |
| 2BR | $1,130 | $132,939 | 0.85% | C |
| 3BR | $1,350 | $199,733 | 0.68% | D |
| 4BR | $1,490 | $256,315 | 0.58% | F |
| 5BR | $1,728 | $366,459 | 0.47% | F |
U.S. Census Bureau data (2024)
The rental market in Sidney, Nebraska, represented by ZIP code 69162, presents a unique set of challenges and opportunities for landlords. The median household income stands at $60,050, which places significant constraints on the ability of residents to pay the current market rate of $819 for rent. This figure is derived from Census ACS data, providing a reliable snapshot of the local economy.
In contrast, the Fair Market Rent (FMR) for the metro area, as set for fiscal year 2026, is $1,080. This higher standard reflects the federal government’s assessment of reasonable rental costs but is notably above what Sidney’s average resident can afford based on their income levels. It means that landlords who rely solely on market rates might struggle to find tenants willing or able to pay the full amount, especially when compared to the federally subsidized rates.
With 38.8% of the population renting, and a total population of 7,274, there is a notable segment of the community looking for affordable housing options. However, the disparity between the median income and both the market and FMR rates suggests an affordability gap that could impact landlord competition. Landlords who set rents closer to the median income level might attract more tenants, but they would be leaving money on the table compared to the FMR subsidy.
The takeaway for landlords considering their strategy in Sidney is clear: understanding the financial capabilities of your potential tenants is crucial. While voucher holders bring the security of guaranteed payments at the higher FMR rate, landlords must weigh this against the risk of having fewer cash-paying tenants who can afford the market rate. To maximize occupancy and minimize vacancies, landlords may need to consider flexible pricing strategies that align with the local income levels, even if it means accepting slightly lower rents than the FMR allows. This approach could lead to a more stable tenant base and better long-term investment outcomes.
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.