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 |
ZIP code 89150 in Las Vegas, NV, represents a thriving suburban community with approximately 49,150 residents. This working-class area is characterized by a moderate housing market, with median home values around $205,770 and a median household income of $54,150.
The median age of 31 years indicates a younger, dynamic community with potential for growth. Despite the median age, the community benefits from a varied educational attainment level, contributing to a diverse and vibrant local culture. The area's economic landscape reflects its demographic composition, with household incomes and property values aligned with broader regional trends.
Transitioning to the rent economics, the Fair Market Rent (FMR) for ZIP code 89150 in fiscal year 2024 is set at $1640. This figure is slightly above the median rent of $1,504 reported for the area. The FMR is designed to ensure that low-income families can afford decent-quality housing, which is crucial for landlords and small-portfolio investors considering Section 8 properties.
Does the place fit a hands-off voucher operator or a hands-on value-add buyer? Given the strong demand for affordable housing reflected in the FMR being above the median rent, it suggests that the area could be well-suited for both hands-off and hands-on operators. Hands-off voucher operators can rely on the steady stream of rental subsidies to cover their expenses, while hands-on value-add buyers might find opportunities to improve property values and rents over time, given the area's below-average cost of living and moderate safety scores.
In summary, ZIP 89150 offers a blend of affordability and potential for growth, making it a viable option for both types of investors. However, due diligence is recommended, particularly regarding local market conditions and property management practices.
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.