Location: Nye County, NV | Metro: Nye County, NV
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 | $940 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,230 | $257,269 | 0.48% | F |
| 3BR | $1,700 | $371,642 | 0.46% | F |
| 4BR | $2,060 | $456,420 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 89048, located in Pahrump, NV, has a population of 26,486 residents, with 24.7% of them being renters. This indicates that while there is a notable portion of the population renting, it is not a renter-heavy area. The median household income stands at $61,367, which provides a baseline for understanding the economic context of potential tenants.
In terms of rental demand, the market rent for the area is $1,329 per month. This represents approximately 21.6% of the median household income, suggesting that typical rent eats a significant but manageable portion of local incomes. For comparison, the Fair Market Rent (FMR) for the area, as determined by HUD for FY 2026, is set at $1,340, indicating that the market rent closely aligns with the FMR, which is often used as a benchmark for Section 8 voucher amounts.
Given the percentage of renters and the alignment of market rents with FMR, landlords can expect a steady demand for Section 8 tenants, though not an overwhelming one. The tenant profile will likely consist of individuals and families who rely on government assistance due to lower income levels relative to the median. These tenants will have a monthly rental budget constrained by their voucher amount, which in this case is very close to the market rate, making it feasible for landlords to find tenants willing to pay market rates through their vouchers.
Landlords should prepare for tenants who value stability and affordability, and who may require some level of support in maintaining rental payments. However, the relatively high median income suggests that even among those using vouchers, there might be a mix of working individuals and families who can contribute to a stable rental environment. It's important for landlords to ensure compliance with housing quality standards to maintain eligibility under the Section 8 program.
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.