ZIP Code · NE

ZIP 68506

Part of Lincoln, NE

Pop. 27,531·Lancaster County·35th most expensive ZIP in Nebraska

Median rent (all units)

$1,260/mo

Year-over-Year

+3.8%

Month-over-Month

+0.2%

vs US Median

-$672

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 68506 · $1,260

More affordable than 88% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$910

1 BR

$990

2 BR

$1,220

3 BR

$1,700

4 BR+

$1,830

Research median

$1,220/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

January. Asking rents in ZIP 68506 usually run 1.3% below trend in January and 1.4% above it in August, about $34 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 68506 is at its highest level since Zillow's records here began in March 2021.

Past year vs. the rest of Nebraska

Rent in ZIP 68506 changed +3.8% over the year to September 2026. Across the 47 Nebraska ZIP codes Zillow tracks, the typical change was +2.3%.

Recent direction

Rent has risen 3 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($72,637) is $1,816 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,700); a 4-bedroom is $1,830.

Rank in Lincoln

6th cheapest of 14 ZIP codes in Lincoln.

Cheaper nearby

ZIP 68510, 2 miles away, rents for 12% less ($1,107/mo), about $1,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 68506. 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

$15,120/yr

At $1,260/mo median

Location

CityLincoln

StateNE

CountyLancaster County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.8% YoY, +0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 68506 (Lincoln, NE) is majority owner-occupied, has a large retiree population, 47% of residents hold a bachelor's degree or higher.

Population

27,531

Median income

$72,637

Median age

41.3

Renters

35.7%

Age distribution

19.5%

24%

20.7%

23.8%

Under 1819.5%

18–3424%

35–5420.7%

55–6411.9%

65+23.8%

Gender

48.7%

51.3%

Male48.7%

Female51.3%

Race & ethnicity

83%

White83%

Black1.9%

Hispanic8.4%

Asian3.9%

Other2.8%

Education (25+)

19.9%

29.7%

47%

No HS diploma3.4%

HS diploma19.9%

Some college29.7%

Bachelor's+47%

Housing tenure

64.3%

35.7%

Owner64.3%

Renter35.7%

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

2021 vs 2026

How ZIP 68506 in Lincoln, NE has changed in 5 years

Rent

$953 → $1,260

up 32.2%

Income

$63,171 → $72,637

up 15.0%

Population

28,464 → 27,531

down 3.3%

Renter share

36.7% → 35.7%

-1.0 pts

Bachelor's+

46.1% → 47%

+0.9 pts

Median age

39 → 41.3

+2.3 yrs

Rent in ZIP 68506 in Lincoln, NE has climbed 32.2% since 2021, going from about $953 per month to roughly $1,260 today. Median household income grew from $63,171 to $72,637 between 2021 and 2024, a 15.0% shift. Rent outpaced income growth by roughly 17.2 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 28,464 to 27,531 between 2021 and 2024, a 3.3% change. Taken together, the five-year picture in ZIP 68506 in Lincoln, NE reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 68506

Last updated: October 17, 2026

ZIP code 68506 covers Lincoln, NE. The median rent here is $1,260/mo as of October 2026. A 1-bedroom rents for a median of $990/mo. A 2-bedroom rents for a median of $1,220/mo.

At 21% of local median household income ($72,637/yr), ZIP 68506 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 68506?

To keep rent at or below 30% of gross income, you would need to earn at least $50,000/year (about $24/hour full-time) to afford the median rent of $1,260/mo in ZIP 68506. The local median household income is $72,637/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 68506?

Rent in ZIP 68506 has risen 3.8% over the past year as of September 2026. That is the highest level since Zillow's records here began in March 2021.

When is the cheapest time to rent in ZIP 68506?

Asking rents in ZIP 68506 are usually lowest in January, about 1.3% below their yearly trend, and highest in August, about 1.4% above it. At today's median that is a gap of roughly $34 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 68506 compare to other ZIPs in Nebraska?

ZIP 68506 is one of the more affordable among Nebraska ZIP codes for rent, ranking #35 of 52 at $1,260/mo. Over the year to September 2026, rent in ZIP 68506 changed +3.8%, against a typical +2.3% across the 47 Nebraska ZIP codes Zillow tracks.