Section 8 Fair Market Rent (FMR) for ZIP 89030 - 2027

Investment Score for ZIP 89030

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,570	$222,706	0.7%	D
3BR	$2,180	$299,851	0.73%	D
4BR	$2,490	$330,009	0.75%	D
5BR	$2,888	$368,871	0.78%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 89030 (North Las Vegas, NV) #### Section 8 Voucher Dynamics In ZIP code 89030, the Fair Market Rent (FMR) for a two-bedroom apartment is set at $1,580 per month, which represents 39.6% of the median household income of $47,937. However, it is important to note that the actual rental market in this area can be quite different from the FMR. The Zillow median price for a two-bedroom home is $221,103, which translates into a price-to-FMR ratio of 11.7x. This suggests that the cost of ownership is significantly higher than the rental rates, potentially indicating a disparity between what landlords might charge and what voucher holders can afford. The constraints for voucher holders are evident when comparing the FMR to the actual rents. For instance, a three-bedroom unit has an FMR of $2,210, but the median household income indicates that many residents may struggle to meet these costs even with a voucher. This could limit the number of units available to Section 8 tenants, especially those requiring larger units. #### Affordability & Renter Profile ZIP 89030 has a high renter population percentage of 64.7%, indicating a strong demand for rental properties. With a median household income of $47,937, affordability is a significant concern for many residents. The FMR for a two-bedroom unit at $1,580 is already a substantial portion of the median income, leaving little room for additional expenses such as utilities, food, and transportation. Given the occupancy rate of 92.0%, it appears that the market is relatively tight, with most available units being occupied. This high occupancy rate suggests that there is limited vacancy, which could drive up rental prices if supply remains constrained. Additionally, the high renter population percentage implies that there is a large segment of the community that relies on rental housing, making it a critical market for affordable housing solutions. #### Investor Angle From an investor perspective, the ZIP code's cash flow potential at FMR needs careful consideration. Given the FMRs for various unit types, the rental income from a two-bedroom unit would be $1,580 per month. However, the price-to-FMR ratio of 11.7x indicates that the purchase price of homes in this area is much higher than the rental value, suggesting that investors should focus on rental properties rather than owner-occupied homes for optimal returns. To determine the investment grade, we need to consider the local rental market dynamics. If the actual rents are close to the FMR, then the investment grade would be favorable for Section 8-focused investors. However, if the actual rents are significantly lower than the FMR, then the investment grade would be less attractive. Based on the high occupancy rate and the high renter population percentage, it seems that the market is likely to support rents near the FMR, making it a reasonable investment opportunity. #### Specific Actionable Insights 1. **Focus on Two-Bedroom Units**: Given the high renter population and the fact that a two-bedroom unit's FMR ($1,580) is a manageable portion of the median household income, investors should prioritize acquiring two-bedroom properties. These units are likely to have the highest demand and can be rented out at or near the FMR without significant difficulty. 2. **Consider Larger Units Strategically**: While the FMR for three-bedroom units ($2,210) and four-bedroom units ($2,560) is higher, the median household income suggests that many residents may find these rents challenging. Investors should carefully evaluate the local demand for larger units and consider offering them only if they can secure tenants who can afford the higher rents or if they can leverage other programs that provide additional financial assistance. 3. **Monitor Local Rental Trends**: The high occupancy rate and the high renter population percentage indicate a tight market. Investors should closely monitor local rental trends to ensure that their properties remain competitive. This includes keeping track of any changes in the FMR and adjusting rental prices accordingly to maintain occupancy levels. #### Bottom Line For Section 8-focused investors, the ZIP code 89030 presents a mixed picture. While the high renter population and occupancy rate suggest a robust demand for rental properties, the high price-to-FMR ratio indicates that the cost of purchasing homes in this area may not align well with rental income expectations. Therefore, the recommendation is to **Hold** on to existing investments in this area and **Skip** new acquisitions unless they are specifically targeted towards rental properties that can be managed at or near the FMR. The best strategy would be to focus on two-bedroom units, which are more likely to be affordable for the majority of residents and can provide steady cash flow.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.