ZIP Code · NE

ZIP 68701

Part of Norfolk, NE

Pop. 31,417·Madison County·38th most expensive ZIP in Nebraska

Median rent (all units)

$1,247/mo

Year-over-Year

+2.6%

Month-over-Month

+0.2%

vs US Median

-$685

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 68701 · $1,247

More affordable than 89% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$700

1 BR

$780

2 BR

$1,020

3 BR

$1,310

4 BR+

$1,550

Research median

$1,020/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

Past year vs. the rest of Nebraska

Rent in ZIP 68701 changed +2.6% over the year to September 2026. Across the 47 Nebraska ZIP codes Zillow tracks, the typical change was +2.3%.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($62,633) is $1,566 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,550).

From Zillow's monthly rent index (ZORI) for ZIP 68701. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$14,964/yr

At $1,247/mo median

Location

CityNorfolk

StateNE

CountyMadison County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.6% YoY, +0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 68701 (Norfolk, NE) is majority owner-occupied, has a median income below the national average, 24.7% of residents hold a bachelor's degree or higher.

Population

31,417

Median income

$62,633

Median age

37.6

Renters

35.5%

Age distribution

24.8%

21.7%

22.6%

13.8%

17.1%

Under 1824.8%

18–3421.7%

35–5422.6%

55–6413.8%

65+17.1%

Gender

49.6%

50.4%

Male49.6%

Female50.4%

Race & ethnicity

81.4%

14.3%

White81.4%

Black0.9%

Hispanic14.3%

Asian0.8%

Other2.5%

Education (25+)

29.6%

37.8%

24.7%

No HS diploma7.9%

HS diploma29.6%

Some college37.8%

Bachelor's+24.7%

Housing tenure

64.5%

35.5%

Owner64.5%

Renter35.5%

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

2021 vs 2026

How ZIP 68701 in Norfolk, NE has changed in 5 years

Income

$55,203 → $62,633

up 13.5%

Population

31,155 → 31,417

up 0.8%

Renter share

33.3% → 35.5%

+2.2 pts

Bachelor's+

25.6% → 24.7%

-0.9 pts

Median age

36.7 → 37.6

+0.9 yrs

Local incomes tracked alongside that move, going from a median of $55,203 in 2021 to $62,633 more recently. The renter share has risen from 33.3% to 35.5%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

Tips for renters in ZIP 68701

About renting in ZIP 68701

Last updated: October 17, 2026

ZIP code 68701 covers Norfolk, NE. The median rent here is $1,247/mo as of October 2026. A 1-bedroom rents for a median of $780/mo. A 2-bedroom rents for a median of $1,020/mo.

At 24% of local median household income ($62,633/yr), ZIP 68701 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 68701?

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 $1,247/mo in ZIP 68701. The local median household income is $62,633/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 68701?

Rent in ZIP 68701 has risen 2.6% over the past year.

How does ZIP 68701 compare to other ZIPs in Nebraska?

ZIP 68701 is one of the more affordable among Nebraska ZIP codes for rent, ranking #38 of 52 at $1,247/mo. Over the year to September 2026, rent in ZIP 68701 changed +2.6%, against a typical +2.3% across the 47 Nebraska ZIP codes Zillow tracks.