Location: Lincoln County, NV | Metro: Lincoln County, NV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 89001 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,100, while the average market rent for apartments near the area is approximately $1,095. This indicates that the FMR is slightly higher than the market rent, creating a $5 gap, which represents about a 0.46% difference.
This gap suggests that voucher tenants can provide a steady and reliable source of income for landlords and small-portfolio investors. With the FMR being higher than the market rent, voucher tenants effectively cover the cost of renting without requiring additional subsidies. This makes the area a yield play, where landlords can expect consistent returns on their investment without the risk of vacancy.
The context of 20.8% of renters and a median home value of $232,941 provides insight into the local housing market. Given a median income of $71,386, many residents might struggle to afford market-rate rents, making the Section 8 program particularly valuable. Landlords should consider the long-term benefits of renting to voucher holders, including stable occupancy and government-backed payments, which can outweigh the slight difference in rent compared to market rates.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.