Location: Lyon County, NV | Metro: Lyon County, 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 | $970 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $244,464 | 0.47% | F |
| 3BR | $1,600 | $329,899 | 0.48% | F |
| 4BR | $1,930 | $420,900 | 0.46% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 89447 does not work in favor of landlords based on the fiscal year 2026 Fair Market Rent (FMR) set at $1,130 for the Yerington, NV, HUD Metro FMR Area, compared to the actual market rent reported at $793 according to the Census ACS. This discrepancy suggests that landlords may struggle to cover their costs if they align their rental prices with the market rate.
Acquisition in this area is relatively affordable given the median home value of $311,508. The lack of available data on days on market (DOM) and the low percentage of homes needing price cuts (0.1%) indicate that the real estate market is stable and that homes are selling close to their asking prices. However, this also implies limited opportunities for acquiring properties at discounted rates.
Tenant demand is present but not overwhelming. With a total population of 9,082 and a renter share of 30.7%, there are approximately 2,789 potential renters. While this number may be sufficient to support some rental properties, it is not high enough to guarantee strong competition among tenants or significant upward pressure on rental prices.
In summary, while the acquisition cost in ZIP 89447 is reasonable, the rent math is unfavorable due to the gap between FMR and market rent. Tenant demand exists but is moderate, suggesting that landlords should carefully consider their pricing strategies and market expectations before investing in this area. The financial viability of rental properties will largely depend on operational efficiencies and the ability to charge rents closer to the FMR without deterring tenants.
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.