Location: White Pine County, NV | Metro: White Pine County, NV
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 | $900 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $178,429 | 0.67% | D |
| 3BR | $1,550 | $272,158 | 0.57% | F |
| 4BR | $1,990 | $332,151 | 0.6% | F |
U.S. Census Bureau data (2024)
ZIP 89301, located in Ely, NV, within the White Pine County, NV metro area, serves as a strong cash-flow anchor in a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,270, while the current market rent stands at $903. This creates a significant spread of $367 per unit, allowing landlords to benefit from higher guaranteed rental income through the Section 8 program compared to the local market rates.
The median home value in ZIP 89301 is $218,993. Given the lower property values, landlords can acquire properties at a relatively low cost, which enhances the cash flow potential when paired with the higher FMR set by the government. This means that even if you purchase a property close to its median value, the guaranteed rent will still provide a solid return on investment.
The ZIP code also has a 0.1% price-cut share and an N/A-day days on market (DOM), indicating that there is minimal competition and the market moves slowly. This makes it easier for landlords to secure tenants without having to reduce their asking prices or wait long periods for occupancy.
Furthermore, with a renter share of 30.2%, there is a notable demand for rental properties in the area. Coupled with a median income of $77,518, the population has the financial stability to support a steady stream of rental payments, making it less risky for landlords who might be concerned about tenant turnover or non-payment.
In summary, ZIP 89301 is best suited as a cash-flow anchor due to the substantial difference between the FMR and the market rent, the relatively low cost of acquiring properties, and the stable tenant base. Landlords and small-portfolio investors should focus on maximizing the number of units they can rent out under Section 8 in this ZIP code to leverage these benefits fully.
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.