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Saunders County/Memphis/68042

68042

ZIPSAFMR
Saunders County, NE
Zillow

ZIP Investment Score

70Below average

095130300
BRFMR
Eff. Rent
0 BR$900$900
1 BR$980$980
2 BR$1,120$1,120
3 BR$1,490$1,490
4 BR$1,790$1,790
5 BR$2,059Not available
6 BR$2,367Not available
7 BR$2,722Not available
8 BR$3,131Not available

Purchase Price Calculator

Maximum purchase price
$104,515

Cost breakdown

+Likely effective rent$1,120
HUD FMRUsed$1,120
Market rentN/A
Est. payment standardN/A
-Principal and interest-$528
Loan amount$83,612
Down payment$20,903
Rate6.50%
Term30 years
-Operating costs-$392
Property taxes-$105
Insurance-$175
Utilities$0
HOA$0
Management-$112
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,232(87.2% ROI)
Projected value
$112,551
Return breakdown
Property appreciation+$8,036
Loan principal paid down+$2,996
Rental cash flow+$7,200
5-year hold
+$31,076(148.7% ROI)
Projected value
$118,249
Return breakdown
Property appreciation+$13,734
Loan principal paid down+$5,342
Rental cash flow+$12,000
10-year hold
+$66,002(315.8% ROI)
Projected value
$133,788
Return breakdown
Property appreciation+$29,273
Loan principal paid down+$12,729
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 68042 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 68042 (Memphis, NE) is $1,120 a month. That is up 7.7% from $1,040 in FY 2026. Memphis is in the Saunders County, NE HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,153. Among 20 ZIP codes in Saunders County, 68042 is tied for the 12th-highest two-bedroom rent (county range $1,030–$1,720). The median county two-bedroom FMR in Nebraska is $1,014, so ZIP 68042 is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 68042
BedroomsFY 2027Change90–110% range
Studio$900+8.4%$810–$990
1BR$980+7.7%$882–$1,078
2BR$1,120+7.7%$1,008–$1,232
3BR$1,490+8.8%$1,341–$1,639
4BR$1,790+15.5%$1,611–$1,969

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 68042
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$900$980$1,120$1,490$1,790
FY 2026$830$910$1,040$1,370$1,550
FY 2025$740$810$940$1,180$1,380
FY 2024$710$770$920$1,150$1,350
FY 2023$650$710$880$1,090$1,340

Two-bedroom rent in nearby Saunders County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 68042
68017$1,1200.0%
68018$1,290+15.2%
68025$1,230+9.8%
68033$1,1200.0%
68036$1,520+35.7%
68040$1,200+7.1%
68041$1,100−1.8%
68042Current$1,120—
68050$1,070−4.5%
68064$1,240+10.7%
68065$1,030−8.0%
68066$1,130+0.9%

Questions about ZIP 68042 rents

How much will Section 8 pay for a two-bedroom in ZIP 68042?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,153, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,038 to $1,268 a month; under the ZIP-level Small Area FMR of $1,120 it would be $1,008 to $1,232. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 68042 in?

ZIP 68042 is in the Saunders County, NE HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,153.

How much did fair market rent change in ZIP 68042 for FY 2027?

The two-bedroom FMR rose 7.7%, from $1,040 in FY 2026 to $1,120 in FY 2027. Since FY 2023 it has risen 27.3%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentMemphis, NE fair market rentNE statewide rentsWhat is SAFMR?Data sources