ZIP Code · NE

ZIP 68503

Part of Lincoln, NE

Pop. 15,867·Lancaster County·45th most expensive ZIP in Nebraska

Median rent (all units)

$1,155/mo

Year-over-Year

+1.7%

Month-over-Month

-0.4%

vs US Median

-$777

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 68503 · $1,155

More affordable than 93% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$770

1 BR

$840

2 BR

$1,030

3 BR

$1,430

4 BR+

$1,550

Research median

$1,030/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 68503 usually run 1.7% below trend in December and 1.5% above it in August, about $37 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 68503 is 1% below its high of $1,167 in July 2026, at $1,155 as of September 2026.

Past year vs. the rest of Nebraska

Rent in ZIP 68503 changed +1.7% over the year to September 2026. Across the 47 Nebraska ZIP codes Zillow tracks, the typical change was +2.3%.

Recent direction

Rent has fallen 2 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($54,232) is $1,356 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,030); a 3-bedroom is $1,430.

Rank in Lincoln

4th cheapest of 14 ZIP codes in Lincoln.

Cheaper nearby

ZIP 68508, 2 miles away, rents for 29% less ($822/mo), about $4,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 68503. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$13,860/yr

At $1,155/mo median

Location

CityLincoln

StateNE

CountyLancaster County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+1.7% YoY, -0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 68503 (Lincoln, NE) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 39.5% of residents hold a bachelor's degree or higher.

Population

15,867

Median income

$54,232

Median age

27.4

Renters

61.1%

Age distribution

23.6%

39.7%

18.7%

Under 1823.6%

18–3439.7%

35–5418.7%

55–649.1%

65+8.8%

Gender

50.5%

49.5%

Male50.5%

Female49.5%

Race & ethnicity

59.7%

13.9%

12.8%

White59.7%

Black13.9%

Hispanic12.8%

Asian8.3%

Other5.3%

Education (25+)

18%

17.6%

24.9%

39.5%

No HS diploma18%

HS diploma17.6%

Some college24.9%

Bachelor's+39.5%

Housing tenure

38.9%

61.1%

Owner38.9%

Renter61.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 68503 in Lincoln, NE has changed in 5 years

Rent

$873 → $1,155

up 32.3%

Income

$40,251 → $54,232

up 34.7%

Population

15,696 → 15,867

up 1.1%

Renter share

63.8% → 61.1%

-2.7 pts

Bachelor's+

33.3% → 39.5%

+6.2 pts

Median age

26.7 → 27.4

+0.7 yrs

Five years ago, renters in ZIP 68503 in Lincoln, NE paid around $873 a month. That figure now sits near $1,155, up 32.3% from the 2021 baseline. Census figures show median household income at $54,232 today, compared with $40,251 five years earlier. Census counts show ZIP 68503 in Lincoln, NE adding about 171 residents over the five-year window, up 1.1% on net. The renter share has eased from 63.8% to 61.1%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 33.3% to 39.5% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

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About renting in ZIP 68503

Last updated: October 17, 2026

ZIP code 68503 covers Lincoln, NE. The median rent here is $1,155/mo as of October 2026. A 1-bedroom rents for a median of $840/mo. A 2-bedroom rents for a median of $1,030/mo.

At 26% of local median household income ($54,232/yr), ZIP 68503 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 68503?

To keep rent at or below 30% of gross income, you would need to earn at least $46,000/year (about $22/hour full-time) to afford the median rent of $1,155/mo in ZIP 68503. The local median household income is $54,232/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 68503?

Rent in ZIP 68503 has risen 1.7% over the past year as of September 2026. It sits 1% below its high of $1,167 in July 2026.

When is the cheapest time to rent in ZIP 68503?

Asking rents in ZIP 68503 are usually lowest in December, about 1.7% below their yearly trend, and highest in August, about 1.5% above it. At today's median that is a gap of roughly $37 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 68503 compare to other ZIPs in Nebraska?

ZIP 68503 is one of the more affordable among Nebraska ZIP codes for rent, ranking #45 of 52 at $1,155/mo. Over the year to September 2026, rent in ZIP 68503 changed +1.7%, against a typical +2.3% across the 47 Nebraska ZIP codes Zillow tracks.