Location: Cherry County, NE | Metro: Brown County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
ZIP code 69221, located within the Cherry County, NE metro, has a Fair Market Rent (FMR) of $1,060 for fiscal year 2026. This figure is key to understanding how 69221 compares to other ZIP codes within the same metro area.
The FMR of $1,060 suggests that 69221 falls into the mid-tier neighborhood category relative to typical Cherry County, NE ZIP codes. The absence of specific market rent and home value data for ZIP 69221 makes direct comparisons challenging, but the FMR provides insight into the rental cost landscape. FMRs are set by the U.S. Department of Housing and Urban Development (HUD) and represent the maximum amount that can be charged for Section 8 housing vouchers in a given area. They are typically lower than market rents, indicating subsidized rates.
The 30.8% renter share in ZIP 69221 is notably higher than the average for Cherry County, NE. This high percentage of renters could imply a significant demand for rental properties, which is positive for landlords and small-portfolio investors. However, without concrete market rent and home value data, it's difficult to conclusively state whether this high renter share translates into a sweet spot for Section 8 investments.
To determine if 69221 is a value pocket or a premium sub-market, we would need additional metrics such as median home values and average market rents. A high renter share combined with below-metro home values would suggest a value pocket, where Section 8 tenants might find affordable housing options. Conversely, if market rents were significantly higher than the FMR, it could indicate a premium sub-market, where Section 8 vouchers provide a competitive edge for tenants.
In conclusion, based on the available data, ZIP 69221 appears to be a mid-tier neighborhood within the Cherry County, NE metro, characterized by its FMR and relatively high renter share. To make more precise inferences regarding its status as a value pocket or premium sub-market, further analysis of market rents and home values would be required.
Data Sources: FMR data from HUD (2027). 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.