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Wayne County/Norfolk/68701

68701

ZIPSAFMR
Wayne County, NE
Zillow

ZIP Investment Score

73Below average

095130300
BRFMR
Eff. Rent
0 BR$780$860
1 BR$880$970
2 BR$1,110$1,220
3 BR$1,430$1,480
4 BR$1,690$1,770
5 BR$1,943Not available
6 BR$2,235Not available
7 BR$2,570Not available
8 BR$2,956Not available

Purchase Price Calculator

Maximum purchase price
$119,375

Cost breakdown

+Likely effective rent$1,220
HUD FMR$1,110
Market rent$1,360
Est. payment standard (110%)Used$1,220
-Principal and interest-$604
Loan amount$95,500
Down payment$23,875
Rate6.50%
Term30 years
-Operating costs-$416
Property taxes-$119
Insurance-$175
Utilities$0
HOA$0
Management-$122
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,800(82.9% ROI)
Projected value
$128,554
Return breakdown
Property appreciation+$9,179
Loan principal paid down+$3,422
Rental cash flow+$7,200
5-year hold
+$33,788(141.5% ROI)
Projected value
$135,062
Return breakdown
Property appreciation+$15,687
Loan principal paid down+$6,102
Rental cash flow+$12,000
10-year hold
+$71,974(301.5% ROI)
Projected value
$152,810
Return breakdown
Property appreciation+$33,435
Loan principal paid down+$14,539
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.72
1 BR
0.83
2 BR
0.82
3 BR
0.95
4 BR
0.93
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 68701 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 68701 (Norfolk, NE) is $1,110 a month. That is up 8.8% from $1,020 in FY 2026. Norfolk is in the Wayne County, NE non-metropolitan 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 county-wide two-bedroom FMR of $1,014. Among 13 ZIP codes in Wayne County, 68701 has the 4th-highest two-bedroom rent (county range $1,010–$1,530). The median county two-bedroom FMR in Nebraska is $1,014, so ZIP 68701 is 9% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 68701
BedroomsFY 2027Change90–110% range
Studio$780+11.4%$702–$858
1BR$880+12.8%$792–$968
2BR$1,110+8.8%$999–$1,221
3BR$1,430+9.2%$1,287–$1,573
4BR$1,690+9.0%$1,521–$1,859

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 68701
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$780$880$1,110$1,430$1,690
FY 2026$700$780$1,020$1,310$1,550
FY 2025$650$730$960$1,200$1,450
FY 2024area FMR$591$664$872$1,054$1,307
FY 2023area FMR$574$641$844$1,027$1,134

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Wayne County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 68701
68701Current$1,110—
68723$1,060−4.5%
68733$1,040−6.3%
68740$1,530+37.8%
68745$1,100−0.9%
68767$1,180+6.3%
68768$1,010−9.0%
68771$1,070−3.6%
68784$1,100−0.9%
68787$1,010−9.0%
68790$1,010−9.0%
68791$1,010−9.0%

Questions about ZIP 68701 rents

How much will Section 8 pay for a two-bedroom in ZIP 68701?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,110 it would be $999 to $1,221. 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 68701 in?

ZIP 68701 is in the Wayne County, NE non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 68701 for FY 2027?

The two-bedroom FMR rose 8.8%, from $1,020 in FY 2026 to $1,110 in FY 2027. Since FY 2025 it has risen 15.6%.

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