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 | $1,970 |
| 1 Bedroom | $2,150 |
| 2 Bedrooms | $2,530 |
| 3 Bedrooms | $3,480 |
| 4 Bedrooms | $3,980 |
| 5 Bedrooms | $4,617 |
| 6 Bedrooms | $5,171 |
| 7 Bedrooms | $5,585 |
| 8 Bedrooms | $5,864 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,480 | $469,944 | 0.74% | D |
| 4BR | $3,980 | $513,935 | 0.77% | D |
| 5BR | $4,617 | $613,388 | 0.75% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 89085 suggests a balanced market where both landlords and small-portfolio investors can maintain pricing power over the next 12-24 months. With a median home value of $509,385, the area presents a stable base for property values, indicating that the housing stock is neither undervalued nor overheated.
The absence of percentage data on listings being reduced and the median days on market (DOM) reflects a neutral stance in terms of active price adjustments and sales velocity. This implies that the market is not currently experiencing significant pressure to lower prices or expedite sales, which supports the notion that pricing power remains intact.
On the rental side, the Federal Market Rent (FMR) for ZIP 89085 in fiscal year 2024 is set at $2460. Comparatively, the market rent as measured by Zillow's Rent Index (ZORI) stands at $2,550. The slight premium of market rent over FMR signals that landlords have some flexibility to maintain rents at slightly above government estimates without losing tenants to subsidized housing options.
For long-term investors, the setup points toward a moderate appreciation thesis. Given the stability in home values and the modest gap between FMR and market rent, it's reasonable to expect that property values will continue to rise in line with broader economic growth and inflation rates. However, the absence of aggressive price reductions and rapid sales cycles indicates that the pace of appreciation will likely be gradual rather than explosive.
Investors should focus on maintaining properties to ensure they command the highest possible rent and remain attractive to buyers for potential future sales. Additionally, keeping an eye on broader economic indicators such as interest rates and employment trends will be crucial in understanding how these factors might influence local market dynamics.
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.