Phelps County, NE: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,0142-bedroom FMR, FY2027

$7821-bedroom FMR, FY2027

$82,30080% income limit, family of 4 (FY2026)

$102,900Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Phelps County is $1,014 a month, up 5.5% from $961 in FY2026. Phelps County belongs to the Phelps County, NE FMR area (non-metro county), so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Phelps County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$734	$666	+10.2%	$661 – $807
1 bedroom	$782	$760	+2.9%	$704 – $860
2 bedrooms	$1,014	$961	+5.5%	$913 – $1,115
3 bedrooms	$1,370	$1,311	+4.5%	$1,233 – $1,507
4 bedrooms	$1,665	$1,463	+13.8%	$1,499 – $1,831

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Phelps County that is typically $913 to $1,115 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$39,688median income of renter households

$815Median gross rent, all units

25%Rent-to-income ratio (median rent ÷ median renter income)

43%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $39,688 can afford about $992 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,014 is $22 (2.2%) more than that. To rent a two-bedroom at the FMR, a household needs $40,560 a year under the 30% rule, or $36,504 under the common landlord rule that income must be three times the rent.

Phelps County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$815 ±$49
Median income of renter households	$39,688 ±$7,941
Renters paying 30% or more of income (cost-burdened)	42.6% ±10.3
Renters paying 50% or more (severely cost-burdened)	21.7% ±7.5
Renter households (where the share can be computed)	1,146

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$672	$815	+21.3%
Median renter household income	$41,500	$39,688	−4.4%
Renters paying 30%+ of income	35.2%	42.6%	+7.4 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

HUD income limits for Phelps County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $102,900 (FY2025: $98,500, +4.5%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$21,600 +4.3%	$24,700 +4.4%	$27,800 +4.3%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$36,050 +4.5%	$41,200 +4.6%	$46,350 +4.5%	$51,450 +4.5%	$55,600 +4.5%	$59,700 +4.5%	$63,800 +4.4%	$67,950 +4.5%
Low income (80%)	$57,650 +4.4%	$65,850 +4.4%	$74,100 +4.4%	$82,300 +4.4%	$88,900 +4.4%	$95,500 +4.4%	$102,100 +4.5%	$108,650 +4.4%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.