Location: Las Vegas-Henderson-North Las Vegas, NV | Metro: Las Vegas-Henderson-North Las Vegas, NV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
The ZIP code 89114 in Nevada presents a dynamic rental market characterized by the Federal Market Rent (FMR) figure of $1640 for fiscal year 2024. This indicates a steady rental environment, aligning with the expectations of landlords and small-portfolio investors looking for consistent returns. The absence of specific market rent data suggests that the area may not have been extensively studied or reported on recently, leaving room for further investigation into local trends.
The lack of detailed metrics such as price-cut share, days on market (DOM), and median home value implies a less volatile market. Typically, high price-cut shares and longer DOM periods signal a market where supply exceeds demand, but without these specifics, it's difficult to pinpoint the exact balance between supply and demand in 89114. However, the reliance on FMR data alone can be interpreted as an indication that the government sees this area as needing support through programs like Section 8, which might suggest some underlying economic challenges or housing affordability issues.
The unknown percentage of the renter share provides insight into the potential long-term housing pressures. A higher renter share often correlates with greater housing demand, potentially indicating a tight rental market. Conversely, if the renter share were lower, it could imply a more balanced market with fewer pressures. In 89114, the absence of this data means that landlords should remain vigilant about the evolving nature of the rental market, as changes in the renter share can influence the overall housing landscape.
In summary, ZIP 89114 appears to be a market in flux, with the FMR serving as a critical benchmark for landlords and investors. The limited availability of other key metrics points towards a stable but understudied rental environment, suggesting that there is significant room for understanding the nuances of supply and demand. For those involved in the real estate sector, keeping abreast of any emerging data will be crucial in navigating the opportunities and challenges within this ZIP code.
Data Sources: FMR data from HUD (2027).
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.