FY2027 Small Area FMR · Lincoln, NE

ZIP 68588 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 68588 (Lincoln, NE) is $1,230 a month, up 7.9% from FY2026. That is 0% equal to the Lincoln, NE area-wide FMR of $1,230.

2-bedroom SAFMR$1,230per month ▲ 7.9%

Area-wide 2 BR FMR$1,230Lincoln, NE

Rank in the area22ndof 51 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,107

2 BR Small Area FMR$1,230

110% of SAFMR$1,353

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$950▲ 11.8%

1 BR$1,010▲ 8.6%

2 BR$1,230▲ 7.9%

3 BR$1,700▲ 6.9%

4 BR$1,910▲ 11.7%

FY2027 FY2026

Where 68588 sits in the Lincoln, NE area

Of the 51 ZIP codes HUD lists for the area, 68588 has the 22nd highest two-bedroom Small Area FMR. Lincoln, NE is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,230 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,230 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$950	$855 – $1,045	$948	$850
1 bedroom	$1,010	$909 – $1,111	$1,009	$930
2 bedrooms	$1,230	$1,107 – $1,353	$1,230	$1,140
3 bedrooms	$1,700	$1,530 – $1,870	$1,703	$1,590
4 bedrooms	$1,910	$1,719 – $2,101	$1,915	$1,710

A household renting a two-bedroom home at the Small Area FMR of $1,230 needs about $49,200 a year to keep housing costs at 30% of income. The area median family income is $106,600 and the 80% low-income limit for four people is $85,300. ZIP code 68588 lies mainly in Lancaster County. See the Lincoln, NE county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
68508	Lincoln	0.7 mi	$1,070
68503	Lincoln	1.0 mi	$1,140
68502	Lincoln	2.4 mi	$1,030
68504	Lincoln	2.9 mi	$1,170
68510	Lincoln	3.1 mi	$1,030
68521	Lincoln	3.4 mi	$1,460

Questions

What is the Fair Market Rent for ZIP code 68588?

HUD's FY2027 Small Area Fair Market Rents for 68588 are $950 (studio), $1,010 (1 BR), $1,230 (2 BR), $1,700 (3 BR) and $1,910 (4 BR) a month.

What is the Section 8 payment standard in 68588?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 68588 that range is $1,107 to $1,353 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 68588?

The FY2026 income limits of the Lincoln, NE area apply: median family income $106,600, low-income (80%) limit $85,300 for a family of four.