Section 8 Fair Market Rent (FMR) for ZIP 89020 - 2027

Location: Nye County, NV | Metro: Nye County, NV

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$840
1 Bedroom	$980
2 Bedrooms	$1,100
3 Bedrooms	$1,530
4 Bedrooms	$1,850
5 Bedrooms	$2,146
6 Bedrooms	$2,404
7 Bedrooms	$2,596
8 Bedrooms	$2,726

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,835

Median Household Income

$36,953

Housing Units

916

Renter Percentage

44.2%

Occupancy Rate

83.2%

Renter Occupied

337

The ZIP code 89020, located in the heart of Reno, Nevada, offers a unique blend of urban amenities and suburban comfort. This area is known for its accessibility to downtown Reno's attractions, while still maintaining a residential feel that appeals to families and young professionals alike.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $1,220.
The market rent for properties in ZIP 89020, based on Census ACS data, is currently $632 per month, indicating a significant gap between the FMR and actual market rates.
The median income for residents in this ZIP code is $36,953, which suggests that many tenants are likely to qualify for housing assistance programs.
Renters make up 44.2% of the population in ZIP 89020, showing a substantial demand for rental properties in the area.
The median home value is listed as N/A, which can be attributed to the high proportion of renters in the area compared to homeowners.
The average number of days on the market (DOM) for rental listings is N/A, suggesting that properties may be rented out quickly once they become available.

Given the data points above, investing in rental properties in ZIP 89020 presents a viable opportunity. The disparity between the Fair Market Rent and the current market rent indicates potential for increasing rental income, especially with the availability of housing assistance programs for low-income residents. Additionally, the high percentage of renters in the area signals strong demand for rental units, which could translate into steady occupancy rates and quick turnover times. However, investors should be aware of the local economic conditions and ensure that their pricing strategies align with both the FMR guidelines and the actual income levels of the residents.

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.