Location: Las Vegas-Henderson-North Las Vegas, NV | Metro: Las Vegas-Henderson-North Las Vegas, NV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
The potential risks for investing in Section 8 housing in ZIP 89037, located in Unknown, NV, must be carefully considered. Tenant turnover can be a significant issue when comparing the market rent, which is currently unavailable, to the Fair Market Rent (FMR) of $1640 set for fiscal year 2024. This uncertainty can lead to fluctuations in rental income stability. Additionally, vacancy exposure is a concern due to the lack of data on the average days on market (DOM), making it difficult to predict how quickly a property might fill. Deferred maintenance is another risk factor, as there is insufficient information on the typical home value and median income levels in the area, which could indicate a higher likelihood of properties needing costly repairs.
Despite these challenges, the high concentration of renters in ZIP 89037, represented by an unspecified percentage of the total population, suggests a strong demand for housing vouchers. High renter density often translates into greater competition for available units, increasing the likelihood of finding tenants who qualify for Section 8 assistance. This demand can offset some of the risks associated with tenant turnover and vacancy rates, providing a more stable source of rental income over time.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.