Location: Lyon County, NV | Metro: Lyon County, NV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 89428 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $1,580. This figure is crucial because it determines the maximum amount that a Section 8 housing voucher can pay toward rent.
When a landlord rents to a Section 8 tenant, the payment structure involves three key components: the tenant's portion, the utility allowance, and the voucher reimbursement. The tenant is required to pay 30% of their adjusted income toward rent, which can vary depending on the individual's financial situation. For instance, if a tenant's adjusted monthly income is $1,000, they would pay $300 toward rent. The utility allowance is an additional amount paid by the housing authority to cover utilities, but this is not directly relevant to the rent calculation.
The voucher reimbursement is the part of the rent paid by the housing authority. It is calculated based on the SAFMR minus the tenant's contribution. Using the example above, if the SAFMR is $1,580 and the tenant contributes $300, the housing authority would reimburse the landlord $1,280. This calculation ensures that landlords receive a stable, government-backed payment.
In ZIP 89428, the local market rent data is currently unavailable, which makes it difficult to compare the SAFMR to market rates directly. However, the SAFMR serves as a benchmark for what is considered fair rent in the area.
To illustrate the typical reimbursement gap or surplus, let's assume a two-bedroom rental unit is listed at $1,600 per month. Given the SAFMR of $1,580, the landlord would receive the full voucher reimbursement plus the tenant's portion, totaling $1,580. In this case, there would be a shortfall of $20 for the landlord, meaning they would have to absorb the difference between the market rent and the voucher reimbursement.
Alternatively, if the market rent is below the SAFMR, say $1,500, then the landlord would receive the full market rent, and there would be no surplus or shortfall. The housing authority would still pay the voucher amount of $1,280, and the tenant would contribute $220, totaling the $1,500 market rent.
Landlords should be aware that the SAFMR of $1,580 applies specifically to this ZIP code, providing a localized measure of fair rent. This specificity helps ensure that the economic realities of renting in ZIP 89428 are accurately reflected in the voucher program.
In summary, the typical reimbursement for a two-bedroom unit in ZIP 89428 will leave landlords with either a small shortfall or no surplus, depending on how the market rent compares to the SAFMR. Landlords must carefully consider these figures when deciding whether to participate in the Section 8 program.
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.