Nebraska · FIPS 31137 · HUD FY 2027
Phelps County, Nebraska Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Phelps County is $1,014 a month (rent plus utilities), 20% below the Nebraska average of $1,260 and 42% below the U.S. average of $1,761. That is up $53 (5.5%) from FY 2026. At 30% of income, a household needs about $40,560 a year to afford it.
- $1,0142-bedroom FMR+$53 (+5.5%) vs FY 2026
- $7821-bedroom FMRNebraska: $1,036 · U.S.: $1,478
- $40,560Income for a 2-bedroom$20/hour full-time
- 28 of 932BR rank in Nebraska1 = highest rent
| Unit | Phelps County FY 2027 | FY 2026 | Change | Nebraska avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $734 | $666 | +$68 (+10.2%) | $977 | $1,379 | $29,360 |
| 1 bedroom | $782 | $760 | +$22 (+2.9%) | $1,036 | $1,478 | $31,280 |
| 2 bedrooms | $1,014 | $961 | +$53 (+5.5%) | $1,260 | $1,761 | $40,560 |
| 3 bedrooms | $1,370 | $1,311 | +$59 (+4.5%) | $1,659 | $2,266 | $54,800 |
| 4 bedrooms | $1,665 | $1,463 | +$202 (+13.8%) | $1,883 | $2,607 | $66,600 |
How Phelps County compares
- Phelps County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Nebraska, 2-bedroom FMRs run from $1,014 (Wheeler County) to $1,450 (Cass County).
- Studio to 4-bedroom: $734, $782, $1,014, $1,370, $1,665. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 5 ZIP codes mostly in Phelps County (by land area), the 2-bedroom figure ranges from $1,010 to $1,200.
Small Area FMRs by ZIP code in Phelps County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 68923 | $730 | $780 | $1,010 | $1,380 | $1,670 | +$50 (+5.2%) | about the same as |
| 68927 | $760 | $850 | $1,060 | $1,410 | $1,590 | −$100 (−8.6%) | 5% above |
| 68940 | $870 | $930 | $1,200 | $1,620 | $1,970 | +$220 (+22.4%) | 18% above |
| 68949 | $730 | $780 | $1,010 | $1,380 | $1,670 | +$50 (+5.2%) | about the same as |
| 68958 | $730 | $780 | $1,010 | $1,380 | $1,680 | +$50 (+5.2%) | about the same as |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.