Location: Sheridan County, NE | Metro: Dawes 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 | $1,240 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $144,828 | 0.7% | D |
U.S. Census Bureau data (2024)
Hay Springs, NE, located in ZIP code 69347, is a small rural community with a total population of 1,324 residents. Only 12.2% of the residents are renters, indicating a predominantly owner-occupied area. The median household income in this region stands at $76,133, reflecting a relatively stable economic environment. Additionally, the median home value in Hay Springs is $161,129, which suggests that homeownership is affordable and accessible to many local residents.
Transitioning into the specifics of rental economics, the Fair Market Rent (FMR) for a metropolitan area in fiscal year 2026 is set at $960. However, the current market rent, according to the Census American Community Survey (ACS), is $867. This discrepancy between the FMR and the actual market rent indicates a potential opportunity for landlords and investors who can capitalize on the higher voucher reimbursement rates while offering competitive rents to tenants.
The low percentage of renters and the modest median home value suggest that this area might be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. Given the limited demand for rentals, the focus should be on providing stable housing options that meet the needs of voucher recipients. A hands-off approach would likely suffice, as there is less need for extensive property improvements or management interventions compared to areas with higher rental demands and more complex housing markets.
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.