FY2027 Small Area FMR · Waterbury, NE
ZIP 68785 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 68785 (Waterbury, NE) is $1,220 a month, up 19.6% from FY2026. That is 2% above the Sioux City, IA-NE-SD area-wide FMR of $1,194.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 68785 sits in the Sioux City, IA-NE-SD area
Of the 46 ZIP codes HUD lists for the area, 68785 has the 10th highest two-bedroom Small Area FMR. Sioux City, IA-NE-SD 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 $1,194 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,220 for this ZIP code instead.
ZIP code 68785 crosses more than one HUD area. HUD also lists it under Dixon County, NE (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $950 | $855 – $1,045 | $831 | $710 |
| 1 bedroom | $1,040 | $936 – $1,144 | $965 | $890 |
| 2 bedrooms | $1,220 | $1,098 – $1,342 | $1,194 | $1,020 |
| 3 bedrooms | $1,520 | $1,368 – $1,672 | $1,447 | $1,360 |
| 4 bedrooms | $1,760 | $1,584 – $1,936 | $1,618 | $1,430 |
A household renting a two-bedroom home at the Small Area FMR of $1,220 needs about $48,800 a year to keep housing costs at 30% of income. The area median family income is $97,900 and the 80% low-income limit for four people is $78,300. ZIP code 68785 lies mainly in Dixon County and Dakota County. See the Sioux City, IA-NE-SD metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 68785?
HUD's FY2027 Small Area Fair Market Rents for 68785 are $950 (studio), $1,040 (1 BR), $1,220 (2 BR), $1,520 (3 BR) and $1,760 (4 BR) a month.
What is the Section 8 payment standard in 68785?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 68785 that range is $1,098 to $1,342 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 68785?
The FY2026 income limits of the Sioux City, IA-NE-SD area apply: median family income $97,900, low-income (80%) limit $78,300 for a family of four.