Location: Humboldt County, NV | Metro: Elko County, NV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
U.S. Census Bureau data (2024)
The ZIP code 89414 stands as a market in motion, with significant insights derived from the current snapshot of data. The Fair Market Rent (FMR) for the area is set at $1,300 for the fiscal year 2026, indicating a benchmark for rental pricing that aligns closely with what is expected in the broader metropolitan context. However, the absence of specific market rent figures and days on market (DOM) suggests a lack of detailed recent activity data, which could otherwise provide immediate signals about the balance between supply and demand.
The 34.2% renter share highlights an ongoing dynamic within 89414. This percentage points towards a substantial portion of residents choosing to rent rather than own their homes, which can be indicative of several factors including affordability issues, population demographics, or a transient community. Long-term, such a high renter share implies persistent housing pressure, as renters often face challenges in finding affordable housing, leading to potential volatility in the rental market.
While the median home value is currently unspecified, the lack of data on price-cut share and DOM indicates that there might not be a significant overhang of unsold properties, suggesting that demand is likely keeping pace with or slightly exceeding supply. This equilibrium, however, is heavily influenced by the renter share, which signals a market where the majority of transactions may revolve around rentals rather than sales.
In conclusion, ZIP 89414 presents a market where the high renter share is a key indicator of ongoing housing pressures. Landlords and small-portfolio investors should consider the stability of the $1,300 FMR as a guidepost while being aware of the potential for fluctuation due to the dynamics of a sizable renting population. The current snapshot lacks specific indicators of supply and demand imbalance, but the overall picture suggests a market with steady demand, particularly for rental properties, which is crucial for investors looking to enter or expand within this region.
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.