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 | $1,200 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,340 | $281,542 | 0.48% | F |
| 2BR | $1,570 | $237,090 | 0.66% | D |
| 3BR | $2,180 | $372,653 | 0.58% | F |
| 4BR | $2,490 | $445,332 | 0.56% | F |
| 5BR | $2,888 | $628,134 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 89102 in Las Vegas, NV, presents a dynamic rental market with specific characteristics that indicate a balance between supply and demand, leaning slightly towards demand. The Fair Market Rent (FMR) for the area, set at $1450 for fiscal year 2024, is higher than the Zillow Observed Rent Index (ZORI) of $1,304. This suggests that the rental market is robust, with landlords likely setting rents close to or above the FMR to attract tenants.
A further indication of strong demand is the low price-cut share of 0.2%. This figure implies that landlords are generally not having to reduce their rental rates to find tenants, which is a positive sign for maintaining or increasing rental income. The median home value of $373,685 is also noteworthy, as it reflects a stable housing market with reasonable property values.
The 70.2% renter share is particularly telling. In a neighborhood where such a high percentage of residents are renters, there is significant long-term housing pressure. This high proportion of renters could be due to several factors including affordability issues, transient populations, or a preference for renting over owning. Regardless of the reasons, it means that there is a consistent need for rental properties, which can be advantageous for landlords and small-portfolio investors looking to capitalize on steady demand.
The lack of available data on days on market (DOM) for homes might suggest either a very active market with quick turnover or a less active market where sales data is sparse. However, given the other indicators, it's more likely that the market is active, with properties selling relatively quickly.
In summary, ZIP 89102 is a market characterized by a high renter share, robust rental prices, and minimal need for price adjustments. These factors point to a scenario where demand is strong enough to support current rental rates without significant downward pressure, making it an attractive area for those interested in the rental market.
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.