Location: Esmeralda County, NV | Metro: Esmeralda County, NV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,240 |
| 5 Bedrooms | $2,598 |
| 6 Bedrooms | $2,910 |
| 7 Bedrooms | $3,143 |
| 8 Bedrooms | $3,300 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 89047, centered around Las Vegas, Nevada, reveals a dynamic environment shaped by the Federal Market Rent (FMR) set at $1,480 for the fiscal year 2026. This figure, established by HUD, indicates the average fair market rent for a two-bedroom apartment, serving as a benchmark for rental pricing in the area.
A notable aspect of this market is the significant renter share, which stands at 36.0%. This high percentage suggests that a substantial portion of the population prefers or requires renting over homeownership. Such a trend can exert long-term pressure on the rental market, potentially leading to higher occupancy rates and steady demand for rental properties. However, without historical data, it's impossible to definitively state whether this is indicative of a growing or stabilizing trend in the local rental landscape.
The absence of specific market rent figures, days on market (DOM), and median home values highlights gaps in the available data, but it does not necessarily imply a lack of activity. In markets with a high renter share, the focus often shifts towards rental properties rather than sales, which could explain the limited information on home values and DOM.
The unknown percentage of price-cut share also points to a lack of comprehensive data regarding how often landlords adjust their rents downward to match the market. Nevertheless, the fact that the FMR is set at $1,480 suggests a level of regulation and standardization in rental pricing, which could mitigate extreme fluctuations in rental costs.
In summary, ZIP 89047 presents a market characterized by a strong reliance on rentals, driven by a significant renter share. The established FMR provides a clear guideline for pricing, while the absence of other metrics leaves room for speculation about the balance between supply and demand. Landlords and small-portfolio investors should closely monitor the local rental trends and consider the implications of a high renter share when making investment decisions.
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.