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 | $1,220 |
| 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 | $150,244 | 0.89% | C |
| 2BR | $1,570 | $201,343 | 0.78% | D |
| 3BR | $2,180 | $390,476 | 0.56% | F |
| 4BR | $2,490 | $477,220 | 0.52% | F |
| 5BR | $2,888 | $706,633 | 0.41% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 89120 in Las Vegas, Nevada, for fiscal year 2024 is set at $1580. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is also known as the Housing Choice Voucher Program. It's important to note that this is not necessarily the rent you will receive; it's the payment standard used by the government to determine the maximum subsidy for tenants.
In comparison, the average market rent in ZIP 89120, as indicated by the Zillow Observed Rent Index (ZORI), is currently $1,462. This suggests that the FMR is slightly higher than the typical rent in the area, potentially making Section 8 rentals more attractive for landlords.
The 40.5% renter share in this ZIP code indicates a strong demand for rental properties. Over 40% of residents in this area are renters, which means there is a substantial pool of potential tenants who could benefit from Section 8 vouchers. This high percentage of renters supports the likelihood of finding qualified tenants for your property.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in ZIP 89120 is approximately $412,598. This figure can help you estimate the acquisition cost of a property in this area, which is an essential factor when calculating your potential returns on investment.
Before finalizing your decision to enter the Section 8 market, it is crucial to verify that your property meets all the necessary requirements for eligibility. The Housing Authority will inspect the property to ensure it complies with health and safety standards. Failure to meet these standards can result in disqualification, so it's important to ensure your property is up to code.
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.