Location: Lincoln County, NV | Metro: Lincoln County, NV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
36.6% of residents in ZIP code 89042 are renters, indicating a significant demand for rental properties in the area. This statistic aligns with the $920 market rent observed in the latest Census ACS data, which is notably lower than the Fair Market Rent (FMR) set at $1,170 for metro areas in fiscal year 2026. The discrepancy between the FMR and the actual market rent suggests potential opportunities for landlords to increase rents without deterring tenants.
$245,999 is the median home value in ZIP 89042, a figure that reflects the overall housing market's stability and affordability. However, the median income stands at $64,083, which is an important consideration for landlords. It implies that many residents may struggle to afford higher rents, making the current market rent a reasonable price point for attracting and retaining tenants.
N/A-day DOM and N/A% price-cut share indicate incomplete data regarding the time on market and the frequency of price reductions among rental properties. Despite these gaps, the combination of a substantial renter population and a relatively low market rent compared to the FMR provides a strong foundation for evaluating the rental market's health and potential profitability.
The $1,170 FMR serves as a benchmark for rental pricing, especially for those interested in participating in the Section 8 program. Given the $920 market rent, landlords can potentially attract tenants who qualify for Section 8 subsidies, thereby ensuring steady occupancy rates and a predictable income stream.
In conclusion, the data points to a viable rental market in ZIP 89042, particularly for those willing to engage with the Section 8 program at or near the $1,170 FMR. This approach would cater to the significant portion of renters while leveraging the support of government subsidies to maintain financial stability.
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.