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 | $1,400 |
| 1 Bedroom | $1,600 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,690 |
| 4 Bedrooms | $3,110 |
| 5 Bedrooms | $3,608 |
| 6 Bedrooms | $4,041 |
| 7 Bedrooms | $4,364 |
| 8 Bedrooms | $4,582 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,690 | $765,691 | 0.35% | F |
| 4BR | $3,110 | $937,195 | 0.33% | F |
U.S. Census Bureau data (2024)
ZIP code 89510, with a population of 1,457, has only 4.1% of its residents as renters, indicating that it is predominantly a homeowner-dominated area rather than a renter-heavy one. The median household income in this ZIP code is $100,282, which is significantly higher than the typical market rent figures available for the area.
The Fair Market Rent (FMR) for ZIP 89510 is set at $1,580 for fiscal year 2024, as determined by HUD. Given the median household income, we can calculate that the FMR represents approximately 19.7% of the average monthly income. This percentage suggests that the typical rent consumes a relatively modest portion of local incomes, making it feasible for households to afford market rents without relying heavily on Section 8 vouchers.
In such a context, landlords should not expect a deep voucher demand. Instead, they should anticipate tenants who are likely to be able to pay market rates without assistance. The scarcity of renters means that those seeking housing through Section 8 may face competition for units, leading to a smaller pool of potential voucher users compared to areas with higher percentages of renters.
To conclude, the profile of ZIP 89510 indicates a low concentration of renters and a strong local economy. Landlords here should prepare for tenants who are financially stable and capable of paying market rents, with little reliance on Section 8 vouchers due to the limited number of rental units and the high median income.
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.