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 | $1,720 |
| 1 Bedroom | $1,990 |
| 2 Bedrooms | $2,500 |
| 3 Bedrooms | $3,390 |
| 4 Bedrooms | $3,940 |
| 5 Bedrooms | $4,570 |
| 6 Bedrooms | $5,118 |
| 7 Bedrooms | $5,527 |
| 8 Bedrooms | $5,803 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,390 | $608,771 | 0.56% | F |
| 4BR | $3,940 | $758,756 | 0.52% | F |
| 5BR | $4,570 | $910,552 | 0.5% | F |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 89441 in the Reno, NV area is set at $2370 for fiscal year 2024. This figure represents the maximum amount that landlords can charge for a unit to be considered affordable under the Section 8 housing program. In comparison, the market rent based on Census ACS data stands at $2,144. This means that landlords participating in the Section 8 program can expect to cashflow comfortably, as the FMR exceeds the average market rent.
To further analyze the investment potential, we can look at the rent-to-price ratio. With a median home value of $696,180, the rent-to-price ratio is approximately 0.34%. This suggests that rental income is relatively low compared to property values, which might make owning a rental property less attractive from a purely financial standpoint. However, the higher FMR compared to the market rent indicates that Section 8 voucher holders can still provide a steady and reliable source of income for landlords.
The data also shows that there is no available information regarding the median days on market (DOM) and the percentage of properties that have undergone price cuts. Despite this lack of detail, the key dynamic here is the disparity between the FMR and the market rent. The fact that voucher tenants can pay more than the market rate ensures a positive cash flow scenario for landlords who accept Section 8 vouchers.
The strongest angle for investors in ZIP code 89441 is likely to be cashflow. Given the favorable FMR-to-market-rent ratio, landlords can expect consistent and above-average rental income, making it an attractive option for those seeking stable returns from their investments.
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.