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 | $1,280 |
| 1 Bedroom | $1,400 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,600 |
| 5 Bedrooms | $3,016 |
| 6 Bedrooms | $3,378 |
| 7 Bedrooms | $3,648 |
| 8 Bedrooms | $3,830 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,400 | $149,196 | 0.94% | C |
| 2BR | $1,650 | $233,824 | 0.71% | D |
| 3BR | $2,270 | $360,649 | 0.63% | D |
| 4BR | $2,600 | $403,895 | 0.64% | D |
| 5BR | $3,016 | $492,619 | 0.61% | D |
U.S. Census Bureau data (2024)
Las Vegas 89108, located northwest of the vibrant downtown core, is characterized by a mix of established single-family neighborhoods and commercial corridors. The area offers convenient access to major thoroughfares like US-95 and is significantly influenced by the presence of Centennial Hills Hospital, a major regional employer and healthcare anchor that stabilizes the local economy and draws a consistent workforce to the area.
From a financial perspective, the math for Section 8 investors is compelling. The HUD Fair Market Rent for a 2-bedroom unit in FY2024 is $1,570, while current market rents (Zillow ZORI) lag at approximately $1,397, creating a premium gap of $173 per month for voucher holders. The area is affordable to enter, with a median home value of $358,441 and a specific median 2BR sale price of $241,205. However, investors should note liquidity constraints, as properties sit on the market for a median of 63 days before selling.
The tenant pool is robust, supported by a 50.9% renter share and a median household income of $59,449. This income level is often below the threshold required for luxury rentals in the valley, driving demand for subsidized housing options. Families are attracted to the area’s reasonable cost of living and access to amenities such as the Cheyenne Sports Complex, enhancing long-term tenant retention for investors offering quality 3- and 4-bedroom units.
The strongest investor angle in 89108 is cash flow through the voucher premium. With the 2BR FMR exceeding market rent by a notable margin and entry prices for 2-bedroom homes sitting at $241,205, investors can secure higher guaranteed income than the general market allows. This dynamic makes the neighborhood ideal for those prioritizing immediate yield over rapid appreciation, provided they account for the 63-day average liquidity timeline.
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.