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 | $1,500 |
| 1 Bedroom | $1,640 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,650 |
| 4 Bedrooms | $3,040 |
| 5 Bedrooms | $3,526 |
| 6 Bedrooms | $3,949 |
| 7 Bedrooms | $4,265 |
| 8 Bedrooms | $4,478 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,640 | $191,144 | 0.86% | C |
| 2BR | $1,930 | $257,575 | 0.75% | D |
| 3BR | $2,650 | $449,124 | 0.59% | F |
| 4BR | $3,040 | $553,910 | 0.55% | F |
| 5BR | $3,526 | $617,441 | 0.57% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 89113 in Las Vegas, Nevada, for fiscal year 2024 is set at $1,880. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you'll receive; it's the payment standard used to determine the subsidy amount.
In comparison, the local market rent for the same area is estimated at $1,908, according to the Zillow Observed Rent Index (ZORI). This suggests that the FMR is slightly below the average market rent, which could mean that your property might be less competitive in terms of location and amenities compared to non-Section 8 rentals.
The demand for rental properties in this area is strong, with renters making up 37.4% of the population. This high percentage indicates that there are many potential tenants who could benefit from a Section 8 rental unit. However, it also means that competition among landlords for these tenants can be fierce.
If you're looking to acquire a new property for your Section 8 portfolio in ZIP 89113, you should expect to pay around $479,212 for an average home. This figure represents the median home value in the area and will give you a good starting point for budgeting your investment.
Before you proceed with adding a Section 8 rental to your portfolio, verify that the property meets all the necessary qualifications and standards set by the housing authority. This includes ensuring that the property is safe, decent, and sanitary, and that it complies with local codes and regulations. This step is crucial because it directly affects your eligibility to participate in the program and receive payments.
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.