ZIP Code · NE

ZIP 68504

Part of Lincoln, NE

Pop. 17,278·Lancaster County·43rd most expensive ZIP in Nebraska

Median rent (all units)

$1,190/mo

Year-over-Year

-0.5%

Month-over-Month

-0.6%

vs US Median

-$742

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 68504 · $1,190

More affordable than 92% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$780

1 BR

$840

2 BR

$1,040

3 BR

$1,450

4 BR+

$1,560

Research median

$1,040/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 68504 usually run 1.7% below trend in December and 1.6% above it in August, about $39 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 68504 is 1.3% below its high of $1,206 in June 2026, at $1,190 as of September 2026.

Past year vs. the rest of Nebraska

Rent in ZIP 68504 changed -0.5% 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 3 months in a row, and rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($56,213) is $1,405 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,040); a 3-bedroom is $1,450.

Rank in Lincoln

5th cheapest of 14 ZIP codes in Lincoln.

Cheaper nearby

ZIP 68508, 3 miles away, rents for 31% less ($822/mo), about $4,400 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 68504. 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

$14,280/yr

At $1,190/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 (-0.5% YoY, -0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 68504 (Lincoln, NE) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 36.4% of residents hold a bachelor's degree or higher.

Population

17,278

Median income

$56,213

Median age

28.7

Renters

68.5%

Age distribution

17.7%

43.3%

19.5%

Under 1817.7%

18–3443.3%

35–5419.5%

55–648.4%

65+11.2%

Gender

51.9%

48.1%

Male51.9%

Female48.1%

Race & ethnicity

73.7%

White73.7%

Black5.4%

Hispanic9.1%

Asian6.8%

Other4.9%

Education (25+)

28.9%

28.3%

36.4%

No HS diploma6.5%

HS diploma28.9%

Some college28.3%

Bachelor's+36.4%

Housing tenure

31.5%

68.5%

Owner31.5%

Renter68.5%

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

2021 vs 2026

How ZIP 68504 in Lincoln, NE has changed in 5 years

Rent

$909 → $1,190

up 30.9%

Income

$44,894 → $56,213

up 25.2%

Population

16,924 → 17,278

up 2.1%

Renter share

65.9% → 68.5%

+2.6 pts

Bachelor's+

28.7% → 36.4%

+7.7 pts

Median age

28 → 28.7

+0.7 yrs

Across the past five years, the going rent in ZIP 68504 in Lincoln, NE has shifted from $909 to $1,190, up 30.9% since 2021. On the earnings side, the typical household in ZIP 68504 in Lincoln, NE now reports about $56,213, up from $44,894 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 68504 in Lincoln, NE adding about 354 residents over the five-year window, up 2.1% on net. The renter share has risen from 65.9% to 68.5%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 28.7% to 36.4% across the same window. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 68504 in Lincoln, NE reflects that arc in its own way.

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About renting in ZIP 68504

Last updated: October 17, 2026

ZIP code 68504 covers Lincoln, NE. The median rent here is $1,190/mo as of October 2026. A 1-bedroom rents for a median of $840/mo. A 2-bedroom rents for a median of $1,040/mo.

At 25% of local median household income ($56,213/yr), ZIP 68504 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 68504?

To keep rent at or below 30% of gross income, you would need to earn at least $48,000/year (about $23/hour full-time) to afford the median rent of $1,190/mo in ZIP 68504. The local median household income is $56,213/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 68504?

Rent in ZIP 68504 has fallen 0.5% over the past year as of September 2026. It sits 1.3% below its high of $1,206 in June 2026.

When is the cheapest time to rent in ZIP 68504?

Asking rents in ZIP 68504 are usually lowest in December, about 1.7% below their yearly trend, and highest in August, about 1.6% above it. At today's median that is a gap of roughly $39 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 68504 compare to other ZIPs in Nebraska?

ZIP 68504 is one of the more affordable among Nebraska ZIP codes for rent, ranking #43 of 52 at $1,190/mo. Over the year to September 2026, rent in ZIP 68504 changed -0.5%, against a typical +2.3% across the 47 Nebraska ZIP codes Zillow tracks.