Location: Las Vegas-Henderson-North Las Vegas, NV | Metro: Las Vegas-Henderson-North Las Vegas, NV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
U.S. Census Bureau data (2024)
The ZIP code 89025 has a population of 1,044 individuals, with 17.7% being renters. This indicates that it is not heavily dominated by renters but rather has a moderate rental presence. The median household income stands at $59,777, which provides a benchmark for evaluating the financial situation of potential tenants.
Considering the market rent of $821, this represents approximately 13.7% of the median household income. In comparison, the Fair Market Rent (FMR) for the area is set at $1320 (for FY 2024), indicating that the actual market rent is significantly lower than the FMR, at about 62% of the FMR. This suggests that the rental market in 89025 is relatively affordable compared to the broader housing market standards.
The difference between the actual market rent and the FMR highlights a substantial gap where Section 8 vouchers could play a significant role. Given that the market rent is much lower than the FMR, landlords can expect a pool of tenants who are likely to have Section 8 vouchers. These vouchers would cover a larger portion of their rental costs, making it easier for them to afford living in this area.
A landlord in ZIP 89025 should anticipate tenants who are financially constrained but still capable of contributing a reasonable amount towards rent. With the voucher covering up to $1320, the actual rent of $821 leaves a significant cushion, reducing the risk of non-payment. Tenants will be primarily low-income families or individuals seeking affordable housing options.
In conclusion, while ZIP 89025 is not a renter-heavy area, the combination of moderate rental rates and the availability of Section 8 vouchers makes it a viable option for landlords looking to serve a low-income tenant base without facing high vacancy rates or non-payment risks. The expected tenant profile includes those who are reliant on government assistance to meet their housing needs.
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.