FMR is below market; voucher rent may lag private rents.
0.85
1 BR
1 BR
0.71ratio
FMR$910
Market$1,290
vs market-$380
FMR is below market; voucher rent may lag private rents.
0.71
2 BR
2 BR
0.76ratio
FMR$1,100
Market$1,440
vs market-$340
FMR is below market; voucher rent may lag private rents.
0.76
3 BR
3 BR
0.94ratio
FMR$1,440
Market$1,530
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.94
4 BR
4 BR
1.18ratio
FMR$1,840
Market$1,560
vs market+$280
FMR is above market; underwrite to market rent.
1.18
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 68848 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 68848 (Kearney, NE) is $1,100 a month. That is up 6.8% from $1,030 in FY 2026. Kearney is in the Buffalo 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 $1,097. Among 17 ZIP codes in Buffalo County, 68848 is tied for the 4th-highest two-bedroom rent (county range $1,010–$1,290). The median county two-bedroom FMR in Nebraska is $1,014, so ZIP 68848 is 8% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 68848
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$790
$900
+13.9%
$810–$990
1BR
$860
$910
+5.8%
$819–$1,001
2BR
$1,030
$1,100
+6.8%
$990–$1,210
3BR
$1,360
$1,440
+5.9%
$1,296–$1,584
4BR
$1,730
$1,840
+6.4%
$1,656–$2,024
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 68848
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$900
$910
$1,100
$1,440
$1,840
FY 2026
$790
$860
$1,030
$1,360
$1,730
FY 2025
$650
$780
$940
$1,250
$1,580
FY 2024area FMR
$651
$758
$960
$1,281
$1,629
FY 2023area FMR
$640
$712
$929
$1,260
$1,582
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Buffalo County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 68848?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,097, which applies unless the housing authority uses Small Area FMRs, that basic range is $987 to $1,207 a month; under the ZIP-level Small Area FMR of $1,100 it would be $990 to $1,210. 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 68848 in?
ZIP 68848 is in the Buffalo County, NE non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,097.
How much did fair market rent change in ZIP 68848 for FY 2027?
The two-bedroom FMR rose 6.8%, from $1,030 in FY 2026 to $1,100 in FY 2027. Since FY 2025 it has risen 17.0%.
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