Location: Douglas County, NV | Metro: Carson City, NV MSA
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 | $1,410 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,800 |
| 4 Bedrooms | $3,380 |
| 5 Bedrooms | $3,921 |
| 6 Bedrooms | $4,392 |
| 7 Bedrooms | $4,743 |
| 8 Bedrooms | $4,980 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,020 | $450,064 | 0.45% | F |
| 3BR | $2,800 | $683,566 | 0.41% | F |
| 4BR | $3,380 | $836,186 | 0.4% | F |
| 5BR | $3,921 | $1,018,750 | 0.38% | F |
U.S. Census Bureau data (2024)
Minden, NV, in ZIP code 89423, is a predominantly owner-occupied community with a total population of 11,221. Only 13.8% of residents are renters, indicating a strong preference for homeownership among the populace. The median household income in this area stands at a robust $108,750, reflecting a relatively affluent demographic. The median home value is also high, at $697,167, which suggests that the homes in this neighborhood are of considerable worth and appeal to those seeking quality living spaces.
When it comes to rental economics, the disparity between the Fair Market Rent (FMR) and the actual market rent is notable. The FMR for ZIP 89423, set for fiscal year 2024, is $1,360. However, the Census American Community Survey (ACS) reports the market rent at $1,811, revealing a significant gap where market rents exceed the FMR by approximately $451 per month. This discrepancy presents both challenges and opportunities for landlords and small-portfolio investors.
The characteristics of ZIP 89423 suggest that it may be better suited for hands-on value-add buyers rather than hands-off voucher operators. Given the higher market rents compared to the FMR, landlords who can manage properties actively to attract tenants willing to pay market rates will likely see better returns. On the other hand, voucher operators might struggle due to the lower FMR setting, which could result in insufficient rental income to cover the higher costs associated with maintaining and operating homes in this upscale neighborhood.
In summary, Minden, NV, in ZIP 89423, is an affluent area with a strong owner-occupied presence. The high median income and home values indicate a desirable location for investment. However, the economic landscape favors active property management over passive reliance on vouchers, making it ideal for investors who are prepared to engage in value-add strategies to capitalize on the premium market rents.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.