FY2027 Small Area FMR · Palmer, NE
ZIP 68864 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 68864 (Palmer, NE) is $1,260 a month, up 2.4% from FY2026. That is 24% above the Howard County, NE area-wide FMR of $1,014.
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 68864 sits in the Howard County, NE area
Of the 14 ZIP codes HUD lists for the area, 68864 has the 2nd highest two-bedroom Small Area FMR. Howard 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 $1,260 for this ZIP code instead.
ZIP code 68864 crosses more than one HUD area. HUD also lists it under Merrick County, NE (same figures) and Nance 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 | $930 | $837 – $1,023 | $754 | $880 |
| 1 bedroom | $1,010 | $909 – $1,111 | $924 | $960 |
| 2 bedrooms | $1,260 | $1,134 – $1,386 | $1,014 | $1,230 |
| 3 bedrooms | $1,690 | $1,521 – $1,859 | $1,260 | $1,640 |
| 4 bedrooms | $2,030 | $1,827 – $2,233 | $1,695 | $1,960 |
A household renting a two-bedroom home at the Small Area FMR of $1,260 needs about $50,400 a year to keep housing costs at 30% of income. The area median family income is $100,000 and the 80% low-income limit for four people is $80,000. ZIP code 68864 lies mainly in Merrick County, Nance County and Howard County. See the Howard County, NE county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 68864?
HUD's FY2027 Small Area Fair Market Rents for 68864 are $930 (studio), $1,010 (1 BR), $1,260 (2 BR), $1,690 (3 BR) and $2,030 (4 BR) a month.
What is the Section 8 payment standard in 68864?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 68864 that range is $1,134 to $1,386 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 68864?
The FY2026 income limits of the Howard County, NE area apply: median family income $100,000, low-income (80%) limit $80,000 for a family of four.