Location: Las Vegas-Henderson-North Las Vegas, NV | Metro: Las Vegas-Henderson-North Las Vegas, NV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
U.S. Census Bureau data (2024)
The ZIP code 89191 presents a unique challenge for both renters and landlords due to limited data on median income and market rates. However, focusing on the available figures, we see that 100.0% of the residents are renters, indicating a high demand for rental properties in this area. The population count stands at 505 individuals.
Given the Full Market Rent (FMR) standard set at $1340 for fiscal year 2024, this figure represents the benchmark for voucher payments in the region. This means that any household receiving a housing voucher will have up to $1340 available per month to pay towards rent. If the market rate were to exceed this amount, it would create an affordability gap for those relying on vouchers.
In a scenario where the market rate is higher than the FMR, landlords might face increased competition from other property owners who are willing to accept voucher payments at the $1340 rate. This could potentially limit the pool of tenants able to afford higher rents, thereby impacting the landlord's ability to maximize rental income.
The takeaway for landlords considering their strategy between accepting voucher tenants versus cash-paying tenants is clear. While accepting voucher payments at the FMR rate of $1340 ensures a steady stream of income, it may also mean lower monthly rents compared to what cash-paying tenants might offer. Landlords should weigh the benefits of guaranteed income against the potential for higher rents from non-voucher households. Given the high percentage of renters and the lack of median income data, landlords must be prepared to adjust their pricing strategies to remain competitive and attractive to both voucher and cash-paying tenants.
Data Sources: FMR data from HUD (2027). 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.