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 | $1,200 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,570 | $271,296 | 0.58% | F |
| 3BR | $2,180 | $385,967 | 0.56% | F |
| 4BR | $2,490 | $483,160 | 0.52% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 89027, Mesquite, NV, stands at $71,574. The market rate for rent, known as the Zillow Observed Rent Index (ZORI), is $1,842 per month. This means that a household earning the median income would spend approximately 28% of their monthly income on rent at market rates. To put this into perspective, a household earning $71,574 annually has a monthly income of around $5,964. At the ZORI rate, they would be spending nearly a third of their income on rent alone.
In comparison, the Fair Market Rent (FMR) for the area, which is the standard used for voucher payments in fiscal year 2024, is set at $1,320. This represents a significant reduction in the rent burden, allowing a household to spend only about 22% of their monthly income on housing when using a voucher. This difference highlights the affordability gap between market rates and subsidized rents, making it challenging for low-income households to find suitable housing without assistance.
Mesquite has a rental population of 21.9%, with a total population of 18,967. This indicates that nearly 4,150 individuals are renters. Given the disparity between the ZORI and the FMR, landlords face a competitive landscape where the demand for affordable housing outstrips supply. Vouchers provide a reliable source of income for landlords, ensuring timely rent payments and reducing the risk of vacancy.
The takeaway for landlords considering whether to accept vouchers versus relying solely on cash-paying tenants is clear. While cash-paying tenants might offer higher rents, the stability and security provided by voucher holders can be advantageous. Landlords should weigh the benefits of guaranteed payments against the potential for higher market-rate rents, keeping in mind the significant portion of the population that relies on subsidies to afford housing. Accepting vouchers can be a strategic decision to maintain occupancy rates and ensure financial stability in a market where many struggle to meet the cost of living.
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.