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 |
|---|---|---|---|---|
| 3BR | $2,180 | $349,647 | 0.62% | D |
U.S. Census Bureau data (2024)
The ZIP code 89040 stands out within its county due to several key factors. With a population of 3,309 residents, it has a rental rate of 29.3%, indicating a significant portion of the community relies on rented housing. The median income in this area is $78,357, which is relatively high compared to national averages. However, the median home value is even higher at $367,868, suggesting that homeownership is quite expensive.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 89040 in fiscal year 2024 is set at $1,320. This is notably higher than the market rent, which according to the Census ACS, is $1,196. This discrepancy means that landlords participating in the Section 8 program can expect to receive slightly above average market rents, providing a marginally better financial position than those who do not accept vouchers.
The data signature for ZIP 89040 reads as stable. Despite the high cost of homeownership, the rental market remains active with a substantial percentage of residents choosing to rent. The median income supports the ability to pay higher rents, and the Section 8 voucher rates align closely with these higher market values. For landlords and small-portfolio investors, this stability translates to a reliable tenant base and predictable income streams when accepting Section 8 vouchers.
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.