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 Fair Market Rent (FMR) for ZIP code 89152 in fiscal year 2024 is set at $1640. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is a housing assistance program for low-income families. It's important to note that this is not the amount you will receive; it is the payment standard used to determine the rent subsidy.
If you're considering your first Section 8 rental property in this area, the FMR gives you a benchmark for pricing your property. However, the actual rent you receive could be less if the tenant's portion of the rent (based on their income) is lower than the difference between the market rent and the FMR.
The local median rent is listed as N/A, making direct comparisons challenging. Nevertheless, the N/A% of the population that are renters suggests a significant demand for rental properties. This high percentage indicates that many residents in the area rely on renting as their primary form of housing, which can be a positive sign for occupancy rates.
Regarding the acquisition cost of a rental property in ZIP 89152, the average price is also listed as N/A. While this doesn't provide a specific figure, it does highlight the need to research local real estate markets thoroughly to ensure you're making an informed investment decision.
Before you decide to enter the Section 8 market in this ZIP code, verify that your property meets all the necessary requirements for eligibility. This includes ensuring that your rental unit passes the Housing Quality Standards (HQS) inspection, which checks for basic livability and safety standards. Once you confirm compliance, you'll be well on your way to participating effectively 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.