Section 8 Fair Market Rent (FMR) for ZIP 89424 - 2027

Location: Reno, NV | Metro: Reno, NV HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,280
1 Bedroom	$1,460
2 Bedrooms	$1,840
3 Bedrooms	$2,460
4 Bedrooms	$2,850
5 Bedrooms	$3,306
6 Bedrooms	$3,703
7 Bedrooms	$3,999
8 Bedrooms	$4,199

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

370

Median Household Income

$72,585

Housing Units

186

Renter Percentage

23.7%

Occupancy Rate

83.9%

Renter Occupied

The ZIP code 89424, located in the suburbs of Las Vegas, Nevada, offers a unique blend of affordability and proximity to urban amenities. This area has become increasingly attractive to both tenants and investors due to its strategic location and growing population.

The Fair Market Rent (FMR) for ZIP 89424 in fiscal year 2024 is set at $1580, providing a benchmark for rental pricing that aligns with local economic conditions.
Average market rent for properties in ZIP 89424 is currently $586 according to recent Census ACS data, indicating a significant gap between market rates and the FMR, which could be advantageous for landlords.
The median home value in this ZIP code is not available, suggesting a focus on rental properties rather than owner-occupied homes, which can be beneficial for those looking to invest in the rental market.
Renters make up 23.7% of the housing market in 89424, highlighting a strong demand for rental properties. This percentage reflects a substantial portion of the population seeking affordable housing options.
The median income for residents in ZIP 89424 is $72,585, indicating a stable economic base that supports the ability to pay higher rents, especially if they are below the FMR threshold.
While the exact days on market (DOM) for rentals is not specified, the combination of a high renter share and relatively low market rent suggests that properties may be quickly occupied once listed.

In summary, ZIP 89424 presents a favorable environment for landlords and small-portfolio investors. The discrepancy between the Fair Market Rent and the average market rent provides an opportunity for landlords to potentially increase their rental income without alienating tenants. With a significant renter share and a median income that supports higher rent payments, there is a strong foundation for rental property investments. However, it's important to note that the lack of data on median home values and days on market indicates areas where further research might be necessary to fully understand the investment potential. Overall, the area's accessibility and economic stability make it a promising choice for real estate investment.

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.