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 | $1,680 |
| 1 Bedroom | $1,840 |
| 2 Bedrooms | $2,160 |
| 3 Bedrooms | $2,970 |
| 4 Bedrooms | $3,400 |
| 5 Bedrooms | $3,944 |
| 6 Bedrooms | $4,417 |
| 7 Bedrooms | $4,770 |
| 8 Bedrooms | $5,009 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,840 | $209,335 | 0.88% | C |
| 2BR | $2,160 | $396,434 | 0.54% | F |
| 3BR | $2,970 | $487,396 | 0.61% | D |
| 4BR | $3,400 | $647,888 | 0.52% | F |
| 5BR | $3,944 | $836,377 | 0.47% | F |
U.S. Census Bureau data (2024)
The ZIP code 89012 in Henderson, NV, is characterized by a diverse and moderately affluent community. With a total population of 38,339, it has a significant rental market, with 38.3% of residents being renters. The median household income stands at $98,053, indicating a solid economic base. Median home values in the area are notably high at $531,099, reflecting a strong real estate market.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 89012 in fiscal year 2024 is set at $2,120. This figure is slightly above the current market rent, which is measured at $1,930 using ZORI (Zillow Observed Rental Index). This suggests that there is a modest premium for Section 8 tenants in the area, potentially offering a stable revenue stream for landlords.
Given these factors, ZIP 89012 can be an attractive option for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stability of Section 8 tenancy, combined with the slightly higher FMR compared to market rent, provides a reliable source of income without the need for constant property management. On the other hand, for hands-on investors looking to add value, the potential exists to renovate properties and increase their market appeal, leveraging the strong local economy and high median home values to command higher rents once the voucher contract expires.
In summary, ZIP 89012 offers a balanced opportunity for investors. Its demographic profile supports a robust rental market, while the economic indicators suggest a favorable environment for both passive and active investment strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.