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 89116 in Las Vegas-Henderson-North Las Vegas County, Nevada, presents a unique challenge due to the lack of comprehensive data on its resident demographics, rental percentages, median income, and median home values. This scarcity makes it difficult to paint a clear picture of the area's economic stability or transitional nature based on typical housing indicators.
Despite these data gaps, the Federal Market Rent (FMR) for ZIP 89116 provides insight into the voucher economics for the area. For fiscal year 2024, the FMR stands at $1640. This figure is crucial for landlords and small-portfolio investors who accept Section 8 vouchers, as it dictates the maximum rent that can be charged under the program. However, without a comparable market rent figure, it's challenging to assess how competitive this rate is relative to the local rental market.
Given the incomplete data signature, the ZIP code 89116 appears to be in a transitional phase. The absence of detailed demographic and economic data suggests ongoing changes or developments in the area, which could impact the rental market and the effectiveness of Section 8 vouchers. Landlords should monitor local trends closely and consider the FMR as a baseline for setting rents when participating in the Section 8 program.
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.