FY2027 Small Area FMR · Albion, NE

ZIP 68620 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 68620 (Albion, NE) is $1,100 a month, up 7.8% from FY2026. That is 8% above the Boone County, NE area-wide FMR of $1,014.

2-bedroom SAFMR$1,100per month ▲ 7.8%

Area-wide 2 BR FMR$1,014Boone County, NE

Rank in the area1stof 11 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$990

2 BR Small Area FMR$1,100

110% of SAFMR$1,210

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

Studio$800▲ 12.7%

1 BR$840▲ 7.7%

2 BR$1,100▲ 7.8%

3 BR$1,390▲ 3.0%

4 BR$1,450▲ 7.4%

FY2027 FY2026

Where 68620 sits in the Boone County, NE area

Of the 11 ZIP codes HUD lists for the area, 68620 has the 1st highest two-bedroom Small Area FMR. Boone County, 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 $1,014 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,100 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	$800	$720 – $880	$734	$710
1 bedroom	$840	$756 – $924	$775	$780
2 bedrooms	$1,100	$990 – $1,210	$1,014	$1,020
3 bedrooms	$1,390	$1,251 – $1,529	$1,278	$1,350
4 bedrooms	$1,450	$1,305 – $1,595	$1,333	$1,350

A household renting a two-bedroom home at the Small Area FMR of $1,100 needs about $44,000 a year to keep housing costs at 30% of income. The area median family income is $100,200 and the 80% low-income limit for four people is $80,150. ZIP code 68620 lies mainly in Boone County. See the Boone County, NE county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
68652	Petersburg	8.2 mi	$1,010
68655	Primrose	10.5 mi	$1,040
68627	Cedar Rapids	13.8 mi	$1,010
68758	Newman Grove	15.3 mi	$1,010
68660	Saint Edward	16.0 mi	$1,010
68665	Spalding	16.3 mi	$1,030

Questions

What is the Fair Market Rent for ZIP code 68620?

HUD's FY2027 Small Area Fair Market Rents for 68620 are $800 (studio), $840 (1 BR), $1,100 (2 BR), $1,390 (3 BR) and $1,450 (4 BR) a month.

What is the Section 8 payment standard in 68620?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 68620 that range is $990 to $1,210 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 68620?

The FY2026 income limits of the Boone County, NE area apply: median family income $100,200, low-income (80%) limit $80,150 for a family of four.