Location: Reno, NV | Metro: Reno, NV HUD Metro FMR Area
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 | $1,540 |
| 1 Bedroom | $1,750 |
| 2 Bedrooms | $2,200 |
| 3 Bedrooms | $2,940 |
| 4 Bedrooms | $3,420 |
| 5 Bedrooms | $3,967 |
| 6 Bedrooms | $4,443 |
| 7 Bedrooms | $4,798 |
| 8 Bedrooms | $5,038 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,940 | $472,219 | 0.62% | D |
U.S. Census Bureau data (2024)
When considering whether to invest in ZIP 89440 for Section 8 properties, follow this decision tree:
1) Does FMR $1800 (zip FY 2024) clear debt service on a $407,893 property?
No. The Fair Market Rent (FMR) of $1800 does not sufficiently cover the debt service for a property valued at $407,893. This indicates that relying solely on Section 8 rental income would not be financially viable without additional subsidies or a higher market rent supplement.
It depends. If there are local or state subsidies available, or if the landlord can secure a higher market rent supplement, then the FMR might clear the debt service. However, this requires further investigation into the specific financial details and subsidies applicable to ZIP 89440.
2) Is market rent N/A (N/A) above, at, or below FMR?
N/A. There is no available data on market rent for ZIP 89440. Without this information, it's impossible to determine how market rents compare to the FMR. Landlords will need to conduct their own research or consult local real estate agents to ascertain the typical market rents in the area.
3) Are 0.0% renters + N/A-day DOM enough demand?
No. With 0.0% of the population identified as renters, there is minimal demand for rental properties in ZIP 89440. Additionally, the Days on Market (DOM) being N/A suggests that there isn't enough activity to provide a reliable measure of demand. These factors indicate that the rental market is likely saturated or underdeveloped, which could pose challenges for landlords seeking to fill vacancies with Section 8 tenants.
In conclusion, based on the provided data, investing in ZIP 89440 for Section 8 properties presents significant challenges. The FMR does not clear debt service on a $407,893 property without additional financial support, and there is insufficient data to assess market rent levels. Furthermore, the lack of renters and unreliable DOM data suggest a weak rental market demand. Landlords should carefully weigh these factors before deciding to invest in this ZIP code.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.