Location: Nye County, NV | Metro: Nye County, NV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
The ZIP code 89003 presents several challenges for landlords considering Section 8 investments. Firstly, tenant turnover can be a significant issue due to the discrepancy between market rent and the Fair Market Rent (FMR) set at $1,040 for FY 2026 in the metro area. This could lead to landlords accepting lower rents than they might receive from non-voucher tenants, impacting profitability.
Vacancy exposure is another concern. The average days on market (DOM) is currently unknown, which makes it difficult to predict how long properties might remain vacant. High vacancy rates can strain cash flow, especially if maintenance costs are also elevated.
Deferred maintenance is a critical risk factor. With both the typical home value and median income unspecified, it's challenging to assess the financial health of potential tenants. This uncertainty can translate into higher maintenance costs for landlords, as tenants with limited financial resources may struggle to keep up with property upkeep.
However, the high renter share of 27.7% in ZIP 89003 indicates a robust demand for rental housing, which often correlates with a higher demand for Section 8 vouchers. This dense rental market can help mitigate some of the risks associated with tenant turnover and vacancy exposure, as there will likely be a steady pool of potential voucher holders seeking accommodation.
In conclusion, despite the risks, the high renter density in ZIP 89003 suggests that the overall risk for a first-time Section 8 landlord is moderate.
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.