Location: Las Vegas-Henderson-North Las Vegas, NV | Metro: Las Vegas-Henderson-North Las Vegas, NV MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,580 |
| 1 Bedroom | $1,730 |
| 2 Bedrooms | $2,030 |
| 3 Bedrooms | $2,790 |
| 4 Bedrooms | $3,190 |
| 5 Bedrooms | $3,700 |
| 6 Bedrooms | $4,144 |
| 7 Bedrooms | $4,476 |
| 8 Bedrooms | $4,700 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,030 | $297,576 | 0.68% | D |
| 3BR | $2,790 | $423,987 | 0.66% | D |
| 4BR | $3,190 | $518,617 | 0.62% | D |
| 5BR | $3,700 | $657,736 | 0.56% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 89002 in Henderson, NV, for fiscal year 2024 is set at $1920. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not necessarily the rent you will receive; it's the benchmark used to determine eligibility and the payment standard for subsidies.
In contrast, the local Zillow Observed Rental Index (ZORI) for the same area is $2,022. This means that the average market rent for properties in ZIP 89002 is slightly higher than the FMR. However, the FMR is specifically designed to cover a broad range of housing types and conditions, which might not always align with the premium market rates.
The 18.6% renter share indicates that nearly one in five residents in this area are renters. This suggests a moderate level of demand for rental properties, including those that participate in the Section 8 program. Given this percentage, there is a reasonable pool of potential tenants who could benefit from Section 8 assistance.
If you're considering purchasing a property to use as a Section 8 rental, the acquisition cost should be a key factor. With an average home price of around $467,056, you'll need to ensure that your investment makes financial sense. The FMR of $1920 provides a stable, government-backed income stream, but you must also consider maintenance costs, vacancy rates, and other expenses that come with owning rental property.
Before you decide to enter the Section 8 market, verify that your property meets all the necessary requirements for the program. This includes passing a Housing Quality Standards (HQS) inspection, which ensures that the property is safe, decent, and sanitary. This step is crucial because failing the HQS can delay your participation in the program and affect your rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.