Current & Historic Rental Overview

Current & Historic Community Multi-Family Rental Overview Nebraska (NE) has the 47th highest rent in the country out of 56 states and territories. The average Fair Market Rent for a 2-bedroom home in Nebraska is $738 per month.

*Fair Market Rent is the rent amount, including utilities (except telephone), to rent privately owned, existing, decent, safe and sanitary rental housing of modest (nonluxury) nature with suitable amenities. Fair Market Rent prices are set for each county and metro area across the country. Rates are set for zero-bedroom studios or efficiencies all the way up to 4-bedroom homes. To determine the Fair Market Rent for a home with more than 4-bedrooms add 15% for each additional bedroom. For example, a 4-bedroom home in Arlington, VA in 2017 is $2,855 / mo. Each additional bedroom would be $2,855 x 0.15 = $428.25. So Fair Market Rent for a 5-bedroom home would be $2,855 + $428.25 = $3,283.25 / mo.

FY 2020 Lincoln County Rental Data Fair Market Rent prices in Lincoln County are very low compared to the national average. This FMR area is less expensive than 72% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Lincoln County is $709 per month. The previous year, rent for a two-bedroom home was $760 per month. This is a 6.71% decrease year-over-year.

This FMR rate applies to Dickens, NE, Wellfleet, NE, Maxwell, NE, Brady, NE, Hershey, NE, North Platte, NE and other cities within the region. Additionally, This Fair Market Rent (FMR) area Lincoln County, NE spans one county or city in Nebraska which is listed in the table below. Compared to the rest of Nebraska, the Lincoln County FMR area is more expensive than 61% of the state.

FY 2020 Lincoln County Rental Data (continued) To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well. This FMR area only covers one metro area, North Platte. 50th Percentile Rental Prices:

Although Lincoln County went through a small decrease in FY 2020, it should be noted the FMR area in 2019 was more expensive than 56% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Lincoln County was $760 per month. The previous year (2018), rent for a two-bedroom home was $682 per month. This was a 11.44% increase year-over-year. Also extremely important, noted below are the rental unit vacancy rates for both Lincoln County and North Platte.

Rental Vacancy Rates North Platte, NE Lincoln County, NE Year Vacancy Rate Year Vacancy Rate 2019 4.5 2019 4.8 2018 6.2 2018 5.8 2017 6.4 2017 6.4 2016 6.2 2016 6.3 2015 5.0 2015 4.9 2014 4.0 2014 3.6 2013 4.8 2013 4.2 2012 9.1 2012 8.0 2011 5.1 2011 5.1 2010 5.3 2010 4.7 2009 7.3 2009 6.0 Source: nestats.org Source: www.RentData.org Source: www.Apartments.com