Location: Las Vegas-Henderson-North Las Vegas, NV | Metro: Las Vegas-Henderson-North Las Vegas, NV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
The ZIP code 89006 in Nevada presents a unique challenge for both renters and landlords due to the lack of specific data on median income and market rental rates. However, we can still analyze the situation based on the available information regarding the housing voucher payment standard.
The Fair Market Rent (FMR) for ZIP 89006 in fiscal year 2024 is set at $1640. This figure represents the maximum amount that a landlord can receive through the housing voucher program for a unit in this area. Without concrete data on local incomes and market rates, it's difficult to assess whether a typical household can afford the rent without assistance.
The absence of detailed statistics on the percentage of renters and the total population makes it challenging to gauge the competition among landlords. However, it's reasonable to infer that the lack of comprehensive income data might indicate economic variability or uncertainty in the region, which could affect the ability of potential tenants to pay market rates.
The affordability gap, represented by the difference between unknown market rates and the voucher payment standard, suggests that landlords might face a choice between accepting vouchers, which guarantee a steady but fixed income, and seeking cash-paying tenants who might offer higher rents but are harder to come by given the uncertain economic landscape.
Takeaway for Landlords: In ZIP 89006, accepting housing vouchers at the FMR of $1640 can ensure a stable tenant base and steady income. However, if market conditions permit and there is a sufficient number of cash-paying tenants willing to meet higher rents, landlords may opt to forgo vouchers. The decision should be informed by local trends and the willingness of potential tenants to pay above the voucher rate.
Data Sources: FMR data from HUD (2027).
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.