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 |
The analysis of ZIP code 89023 within the Nye County, NV metro reveals several key points when compared to typical ZIP codes in the area. The Fair Market Rent (FMR) for ZIP 89023 is set at $1,220 for fiscal year 2026. This figure is crucial for understanding the rental market dynamics in the region.
Unfortunately, the specific market rent and home value data for ZIP 89023 are not available. However, the absence of these figures does not preclude making informed observations based on the FMR alone. Typically, an FMR indicates the maximum amount that a low-income family should pay for housing in order to have enough money left over for other basic necessities. In this case, the FMR of $1,220 suggests that if market rents are indeed lower than this amount, 89023 could be considered a value pocket within the Nye County, NV metro. Conversely, if market rents are higher, it might indicate that 89023 is a premium sub-market where properties are more expensive relative to the FMR.
The lack of data on the percentage of renters also poses a challenge in fully categorizing 89023's position within the broader rental market. A high renter share coupled with below-average home values can signal a potential sweet spot for Section 8 investments. Since we do not have specific percentages for 89023, we cannot definitively state whether this ZIP code has a higher proportion of renters compared to other areas in Nye County. However, given the FMR alone, landlords and small-portfolio investors should consider conducting further research into local market conditions to determine if 89023 offers a favorable investment opportunity.
To summarize, while the FMR of $1,220 provides insight into the rental cost guidelines for low-income families in ZIP 89023, the absence of comparative market rent and home value data makes it difficult to conclusively label 89023 as either a value pocket, a mid-tier neighborhood, or a premium sub-market. Additional investigation is recommended to understand the local rental market better and make informed decisions about Section 8 investments.
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.