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 89165 in Nevada for 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 funded by the federal government. It's important to note that this is the payment standard, not the actual rent you will receive; tenants must pay 30% of their adjusted income toward rent, and the government covers the difference up to the FMR.
While specific local rent data is currently unavailable, the FMR provides a benchmark for assessing the viability of your rental property in this area. The FMR is designed to reflect the average market rent for a modest home in the area, ensuring that it remains competitive and accessible to low-income families who qualify for the program.
In ZIP 89165, the percentage of renters who might be interested in Section 8 housing is also unspecified at this moment. However, understanding the demand for subsidized housing is crucial. Typically, areas with a higher percentage of renters tend to have a greater interest in Section 8 properties. While the exact percentage is not available, you should consider the overall population and demographic trends to gauge potential demand.
The acquisition cost of a property in this area is similarly unspecified. To determine if a property is a good investment, compare the FMR to typical property values and costs in the area. If the FMR is significantly higher than the acquisition cost, it could indicate a strong potential for profitability. Conversely, if the FMR is lower than expected property values, you may need to adjust your expectations or look for other opportunities.
Before proceeding with a Section 8 rental in ZIP 89165, verify that your property meets the Housing Quality Standards (HQS) required by the program. These standards ensure that the rental unit is safe, decent, and sanitary for occupancy. A thorough inspection and any necessary repairs should be completed before applying to the 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.