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 | $1,460 |
| 1 Bedroom | $1,600 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,580 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,600 | $203,204 | 0.79% | D |
| 2BR | $1,880 | $314,439 | 0.6% | F |
| 3BR | $2,580 | $440,619 | 0.59% | F |
| 4BR | $2,960 | $512,261 | 0.58% | F |
| 5BR | $3,434 | $632,534 | 0.54% | F |
U.S. Census Bureau data (2024)
Las Vegas 89148, located in the southwest valley, is characterized by a master-planned, suburban feel that appeals heavily to families and working professionals. The area features well-maintained communities and convenient access to major retail hubs. The neighborhood’s economic stability is supported by the presence of significant regional employers, including the Southern Nevada Health District, which operates a major campus nearby and contributes to steady local employment.
From a financial perspective, the numbers present a precise picture of the 89148 investment landscape. The HUD Fair Market Rent (FMR) for a 2-bedroom unit in FY2026 is projected at $1,970, which exactly aligns with the current Zillow market rent of $1,900, creating a neutral gap of $0. This parity suggests that market rates are effectively capped by HUD standards for this unit size. For acquisitions, the median home value sits at $475,090, while a specific 2-bedroom property typically trades around $325,040. Investors should note the median days on market is 75 days, indicating a moderate sales pace that requires liquidity management.
The tenant pool in this area is robust, driven by a 41.2% renter share and a median household income of $96,696. This income level is significantly higher than the typical threshold for voucher eligibility, suggesting a population that values housing stability but may also seek the affordability security of the Section 8 program during economic shifts. The neighborhood is served by the Clark County School District, with several nearby elementary and middle schools receiving "A" or "B" ratings from GreatSchools, enhancing the area's appeal for families relying on housing assistance to access quality education zones.
For Section 8 investors, the strongest angle in 89148 is stability and risk mitigation rather than aggressive cash-flow premiums. Since the HUD FMR and market rents are identical ($1,970 vs $1,900), investors are guaranteed a competitive rate without the typical discount associated with vouchers. The higher median income and quality schools suggest a lower-risk tenant demographic. While the 75-day days-on-market figure implies resale is not instantaneous, the alignment of government payment standards with market rates makes this a solid, defensive hold for long-term portfolio preservation.
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.