Location: Sheridan County, NE | Metro: Cherry County, NE
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The ZIP code 69333, located in Nebraska, presents an interesting scenario for both renters and landlords. The median income here stands at $70,481, which gives households a decent financial cushion. However, the market rate for rent is currently not available, making it challenging to assess the immediate affordability for residents.
When comparing the median income to the Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD), which is $960 per month for the metro area in fiscal year 2026, the situation becomes clearer. A household earning the median income would find it relatively easier to afford a rental unit at the FMR, assuming they allocate a reasonable portion of their budget towards housing.
In ZIP 69333, approximately 21.1% of the 296 residents are renters. This indicates a smaller pool of potential tenants compared to densely populated areas, which could influence competition among landlords. With fewer renters, landlords might need to consider the benefits of accepting Section 8 vouchers to ensure a steady stream of income.
The affordability gap in this context means that while some renters might be able to pay market rates out-of-pocket, others will rely on assistance such as Section 8 vouchers. For landlords, this translates into a choice between cash-paying tenants and those who use vouchers. Accepting vouchers ensures guaranteed payments but at a fixed rate; cash-paying tenants might offer higher rents but come with the risk of non-payment or late payments.
Takeaway for landlords: Given the limited number of renters and the presence of Section 8 vouchers, landlords should consider diversifying their tenant base. While cash-paying tenants can provide higher monthly incomes, accepting vouchers can fill vacancies and reduce the risk of empty units. Landlords should weigh the benefits of both strategies based on their property management goals and the local rental market dynamics.
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.