Section 8 Fair Market Rent (FMR) for ZIP 89045 - 2027

Location: Nye County, NV | Metro: Nye County, NV

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$860
1 Bedroom	$900
2 Bedrooms	$1,130
3 Bedrooms	$1,560
4 Bedrooms	$1,890
5 Bedrooms	$2,192
6 Bedrooms	$2,455
7 Bedrooms	$2,651
8 Bedrooms	$2,784

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,626

Median Household Income

$110,724

Housing Units

945

Renter Percentage

17.7%

Occupancy Rate

67.6%

Renter Occupied

113

ZIP code 89045, located in the Reno, Nevada metropolitan area, is characterized by its suburban setting and proximity to urban amenities, making it a desirable location for both residents and investors.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $1,160.
The average market rent for properties in ZIP 89045, based on the latest Census American Community Survey (ACS) data, stands at $1,375 per month, indicating that rental prices are above the FMR threshold.
Due to the predominantly rental nature of the area, there is no median home value available, suggesting that homeownership is less common than renting.
Renters make up 17.7% of the housing market in ZIP 89045, which is a relatively low percentage compared to more urbanized areas, but still significant enough to support a rental market.
The median income for residents in this ZIP code is $110,724, reflecting a higher-income demographic that could support higher-end rentals or properties.
The Days on Market (DOM) data is not available, which typically indicates either a very active market where properties sell quickly, or a lack of sufficient recent sales data to provide an accurate figure.

The combination of a higher median income and a rental market that exceeds the FMR suggests strong demand for rental properties in ZIP 89045. Investors should focus on high-quality, well-maintained units that can command rents above the average. The lower percentage of renters compared to other areas might indicate opportunities for expanding the rental market, particularly in segments catering to higher-income individuals. Given the lack of median home values, it's clear that the rental sector is the primary focus for investment in this ZIP code. The absence of DOM data implies that properties are likely selling or renting quickly, which is a positive sign for liquidity and returns on investment.

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.