Location: Sheridan County, NE | Metro: Cherry 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 | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $107,195 | 0.94% | C |
| 3BR | $1,210 | $173,477 | 0.7% | D |
| 4BR | $1,590 | $194,092 | 0.82% | C |
U.S. Census Bureau data (2024)
A household in ZIP code 69343, Nebraska, earning the median income of $59,741, faces significant challenges in affording the market rate rent of $680 per month. The discrepancy between income and housing costs suggests an affordability gap, which impacts both renters and landlords.
To put this into perspective, the household would need to allocate approximately 12.5% of their annual income to cover the market rate rent. This is already a considerable portion, especially considering other essential expenses such as food, healthcare, and education.
However, the situation becomes even more challenging when compared to the Fair Market Rent (FMR) set at $960 per month for metro areas in fiscal year 2026. At this rate, a household would need to spend nearly 19% of their annual income on rent alone, which is unsustainable for most families.
The ZIP code has a relatively low percentage of renters at 30.4%, with a total population of 2,544. This indicates a smaller pool of potential tenants who can afford the market rate rent, intensifying competition among landlords. Landlords must carefully consider their pricing strategies to attract and retain tenants.
Given the data, landlords should focus on offering competitive rents closer to the market rate of $680 rather than the higher FMR of $960. While voucher recipients may offer a stable income stream, the limited number of renters and the high cost of vouchers could deter some landlords. Instead, targeting cash-paying tenants who can manage the lower market rate might be more viable in this area.
The takeaway for landlords is clear: in ZIP 69343, setting rents at or slightly below the market rate of $680 will likely increase occupancy rates and tenant satisfaction. Vouchers can still play a role, but the strategy should balance between voucher and cash-paying tenants to ensure a steady flow of income while addressing the affordability gap.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.