Location: Reno, NV | Metro: Reno, NV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,660 |
| 5 Bedrooms | $3,086 |
| 6 Bedrooms | $3,456 |
| 7 Bedrooms | $3,732 |
| 8 Bedrooms | $3,919 |
ZIP code 89437, located in Reno, NV, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1580. While the exact median home value and median income figures for ZIP 89437 are not provided, it is evident from the surrounding areas' data that the income levels here are lower compared to neighboring ZIP codes such as 89429 and 89434. This suggests that tenants in ZIP 89437 are more likely to qualify for Section 8 assistance.
The lower income levels imply that properties in this area will attract tenants who rely on government subsidies for their rent payments. As a result, landlords can expect steady, reliable cash flow from Section 8 vouchers, which cover a significant portion of the rent. However, this also means that the rent prices are capped at the FMR level, making it a conservative choice for those looking for immediate cash flow rather than rapid appreciation.
Given the lack of data on appreciation potential and diversification factors such as renter share and median income, ZIP 89437 stands out as a safe bet for generating consistent cash flow. Landlords should focus on maintaining properties that meet the necessary standards for Section 8 participation, ensuring that they receive timely voucher payments and avoid the risks associated with higher-income markets where tenants might struggle to pay rent.
Data Sources: FMR data from HUD (2027).
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.