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 | $146,618 | 0.91% | C |
| 2BR | $1,570 | $221,761 | 0.71% | D |
| 3BR | $2,180 | $348,399 | 0.63% | D |
| 4BR | $2,490 | $408,501 | 0.61% | D |
| 5BR | $2,888 | $558,910 | 0.52% | F |
U.S. Census Bureau data (2024)
Las Vegas 89110 represents a dense, working-class district east of the famous Strip, often characterized by mid-century housing stock and a strong sense of established neighborhood character. The area is predominantly residential but benefits from its proximity to major economic hubs; one key local institution is the Nevada State College, which drives educational activity and supports local service demand in the broader vicinity. This corner of the valley offers investors a classic "suburban-urban" feel, where accessibility to downtown employment centers remains a primary draw for the local workforce.
From a financial standpoint, the data reveals a specific pricing tension. The 2-bedroom Full FMR for FY2026 is set at $1,580, while the current Zillow market rent estimate sits at $1,421, creating a gap of $159 per month in favor of the voucher rate. Median home values in the zip stand at $359,819, with a specific median 2BR sale price of $226,035. Properties are moving at a moderate pace, with a median of 51 days on market. Based strictly on these figures, voucher tenants offer a potential cash-flow premium over market-rate tenants, provided the acquisition price aligns with the lower 2BR sale tier.
The tenant pool here is substantial, with 45.5% of households renting and a median household income of $61,001. This income level suggests that while many residents are employed, housing costs may consume a significant portion of earnings, driving demand for subsidy programs. Local amenities such as the Clark County Wetlands Park provide recreational value, and proximity to major transit corridors like Boulder Highway enhances connectivity for car-light households, further supporting rental demand.
The Section 8 verdict for 89110 leans toward a cash-flow and stability play. The spread between the FY2026 2-bedroom FMR ($1,580) and the market rent ($1,421) provides a clear financial incentive to participate in the program, insulating investors from minor market softness. While appreciation potential is tempered by the high median home values relative to sale prices, the guaranteed rent premium above the Zillow ZORI makes this zip code a solid target for investors prioritizing yield over speculative growth.
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.