Location: Douglas County, NV | Metro: Douglas County, NV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
U.S. Census Bureau data (2024)
The median income in ZIP code 89411 stands at $121,981, which is significantly higher than the typical income levels seen in many other areas. However, the absence of specific market rate rental data presents a challenge in directly assessing the affordability gap for renters in this area. Despite this, we can still analyze the situation based on the available Fair Market Rent (FMR) figure.
The FMR for ZIP 89411 is set at $1,840 for the fiscal year 2026. This amount represents the voucher payment standard for housing assistance in the region. Given the high median income, it is likely that the market rate for rentals exceeds the FMR, making it difficult for households relying solely on vouchers to find suitable accommodations.
With only 9.9% of the 1,284 residents being renters, competition among landlords for tenants willing to pay the market rate could be relatively low. However, the scarcity of renters also means that there might be fewer overall opportunities to lease properties. For those looking to utilize Section 8 vouchers, the limited number of renters and the potential disparity between market rates and voucher amounts could lead to a challenging environment where finding a tenant who qualifies and can afford the property might take longer.
Landlords considering their strategy should weigh the benefits and drawbacks of accepting voucher payments versus relying on cash-paying tenants. Accepting vouchers guarantees a steady stream of income, albeit potentially lower than market rates, and helps fill vacancies in a competitive market. On the other hand, cash-paying tenants might offer higher rents but require landlords to navigate a smaller pool of potential renters.
Takeaway: Landlords in ZIP 89411 must consider the local rental dynamics carefully. The high median income suggests that market rates will likely exceed the voucher standard of $1,840. Thus, landlords should be prepared for a scenario where voucher acceptance may be necessary to secure tenants, while also recognizing the possibility of earning more per unit from cash-paying tenants who can afford the higher market rates.
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.