FY2027 Small Area FMR · Phillips, NE
ZIP 68865 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 68865 (Phillips, NE) is $1,100 a month, up 7.8% from FY2026. That is 9% below the Hall County, NE area-wide FMR of $1,210.
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 68865 sits in the Hall County, NE area
Of the 15 ZIP codes HUD lists for the area, 68865 has the 10th highest two-bedroom Small Area FMR. Hall 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 $1,210 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,100 for this ZIP code instead.
ZIP code 68865 crosses more than one HUD area. HUD also lists it under Hamilton 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 | $790 | $711 – $869 | $902 | $700 |
| 1 bedroom | $890 | $801 – $979 | $972 | $860 |
| 2 bedrooms | $1,100 | $990 – $1,210 | $1,210 | $1,020 |
| 3 bedrooms | $1,460 | $1,314 – $1,606 | $1,505 | $1,390 |
| 4 bedrooms | $1,810 | $1,629 – $1,991 | $1,928 | $1,660 |
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 $89,000 and the 80% low-income limit for four people is $75,300. ZIP code 68865 lies mainly in Hamilton County. See the Hall 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 68865?
HUD's FY2027 Small Area Fair Market Rents for 68865 are $790 (studio), $890 (1 BR), $1,100 (2 BR), $1,460 (3 BR) and $1,810 (4 BR) a month.
What is the Section 8 payment standard in 68865?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 68865 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 68865?
The FY2026 income limits of the Hall County, NE area apply: median family income $89,000, low-income (80%) limit $75,300 for a family of four.