Section 8 Fair Market Rent (FMR) for ZIP 89127 - 2027
Location: Las Vegas-Henderson-North Las Vegas, NV | Metro: Las Vegas-Henderson-North Las Vegas, NV MSA
FY 2027 Fair Market Rent Rates
| 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 |
Skeptical investors looking into ZIP 89127 in Nevada might have several concerns regarding the viability of investing in properties under the Section 8 program. Let's address these objections head-on with the available data.
- Will FMR $1640 (zip FY 2024) cover the mortgage on a N/A home?: The Fair Market Rent (FMR) for ZIP 89127 is set at $1640 for fiscal year 2024. However, without specific information on average home prices and typical mortgage rates in the area, it's impossible to definitively state whether this amount will cover a mortgage. Investors should calculate their potential mortgage costs based on the current median home values and prevailing interest rates to determine if the FMR is sufficient.
- Is there enough renter demand at N/A%?: The data does not provide a percentage for the occupancy rate or the demand for rental properties in ZIP 89127. To assess the strength of the rental market, investors need to look at local vacancy rates and the number of Section 8 households. High demand can be inferred from low vacancy rates and a significant number of Section 8 participants, but these figures are currently unavailable. A thorough analysis of local real estate trends and tenant demographics is necessary to gauge the level of renter demand accurately.
- Will vouchers keep pace with N/A market rents?: The FMR of $1640 is intended to reflect the market conditions and ensure that voucher holders can find suitable housing. However, the data does not specify how often the voucher amounts are adjusted to match the FMR. In many areas, voucher adjustments lag behind actual market rent increases, which could pose a risk. It's critical for investors to monitor any changes in voucher policies and FMR adjustments to ensure that the income remains stable and covers the cost of ownership.
The data provided gives us a starting point with the FMR figure, but it leaves some key questions unanswered due to the lack of detailed information on home prices, mortgage costs, and the exact dynamics of the local rental market. Investors must conduct further research to fill in these gaps and make informed decisions.
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.