Real Estate Investing in Miller, Nebraska (68858)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 68858 (Miller, NE)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 31.9% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 28.7 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Miller, NE (68858)?
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Market Analysis: 68858 Miller
ZIP 68858 in Miller, NE carries a healthy set of headwinds. Home values near $298K and rents of $864/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 68858 can be a a solid fit for hunting ground — but the discount at $298K reflects genuine risk that outside investors often underestimate.
Looking more closely, 68858 offers a low basis, the region around Miller has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A solid renter share of 23% in 68858 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 68858 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Miller:
Market Trends
Home Value History (with trend line)
📊 How Does 68858 Compare?
| Metric | 68858 | Miller | Kearney, NE | Nebraska |
|---|---|---|---|---|
| Home Value | $297,549 | $297,549 | N/A | $269,423 |
| 5-Year CAGR | 5.8% | 5.8% | N/A | 6.7% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 2.3% | 2.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 68858 (Miller, NE). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $297,549 |
| Monthly Rent | $864 |
| Price-to-Rent | 28.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.3% |
| 5-Year IRR | 8.0% |
📈 Home Appreciation
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 68858
Population: 362
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
How much do tenants pay in Miller, NE?
Rent in Miller, NE is around $864/mo. The resulting rent-to-value relationship with $298K pricing is reasonable for most investor models.
Does Miller, NE favor landlords or tenants?
Miller, NE operates under NE law, which is landlord-friendly overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
Should investors consider Miller, NE?
With a 3.0/5 investability score, Miller, NE ranks as a solid market for rental property investors. Median prices of $298K and rents of $864/mo drive the underlying numbers.
How should investors approach Miller, NE?
In Miller, NE the impressive play is typically careful cash-flow rentals with hands-on management. The combination of $298K prices and $864/mo rents suits that approach.
What are vacancy rates like in Miller, NE?
Vacancy in Miller, NE is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $864/mo.
You know 68858 now. You don’t know where it ranks.
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How 68858 ranks in Kearney, NE
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