Real Estate Investing in Palmer, Nebraska (68864)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 68864 (Palmer, 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: 14.3% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Palmer, NE (68864)?
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Market Analysis: 68864 Palmer
This part of Merrick County is not an easy win. The 68864 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 68864 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Palmer have seen price recovery that 68864 has not matched. Merrick County data supports the view that the spread is structural rather than temporary.
The 68864 ZIP's population of 1,065 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
New investors are better served looking at Palmer's stable or hybrid ZIPs before stepping into 68864. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Palmer:
Market Trends
Home Value History (with trend line)
📊 How Does 68864 Compare?
| Metric | 68864 | Palmer | Grand Island, NE | Nebraska |
|---|---|---|---|---|
| Home Value | $286,049 | $286,049 | N/A | $269,423 |
| 5-Year CAGR | 6.7% | 6.7% | N/A | 6.7% |
| Avg Rent | $1,107 | $1,107 | N/A | - |
| Cap Rate | 3.0% | 3.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 68864 (Palmer, NE). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $286,049 |
| Monthly Rent | $1,107 |
| Price-to-Rent | 21.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | -0.6% ▼ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 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 (3.0%). 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 68864
Population: 1,065
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
🎓 Schools in 68864
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What is the average home sale price in Palmer, NE?
Expect median prices around $286K in Palmer, NE. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
What do landlords charge for rent in Palmer, NE?
Rent in Palmer, NE is around $1,107/mo. The resulting rent-to-value relationship with $286K pricing is reasonable for most investor models.
Is NE a landlord-friendly state?
The landlord environment in Palmer, NE is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How does Palmer, NE rate as a rental market?
Palmer, NE rates 3.0/5 for investability. With median values at $286K and rents near $1,107/mo, the market offers reasonable fundamentals for rental investors.
Is it easy to find good tenants in Palmer, NE?
Tenant demand in Palmer, NE is solid. The local workforce $1,107/mo rents across most rental classes.
You know 68864 now. You don’t know where it ranks.
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How 68864 ranks in Grand Island, NE
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