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 |
U.S. Census Bureau data (2024)
ZIP code 89557 is situated within the Reno, NV HUD Metro Fair Market Rent (FMR) Area. Its FMR of $1580 for fiscal year 2024 is notably higher than the average market rent of $1,447, indicating that it is likely a premium sub-market within the larger Reno area. The absence of specific home value data suggests that residential property pricing may be less standardized or significantly varied compared to other ZIP codes within the same metropolitan area.
The 100.0% renter share in ZIP 89557 is an anomaly when compared to typical ZIP codes within the Reno, NV HUD Metro FMR Area. Generally, ZIP codes with such a high percentage of renters tend to have lower home values and are often considered attractive for Section 8 investments due to the high demand for rental properties. However, since the home value is not available, we cannot definitively conclude if 89557 is a value pocket where low property costs combined with high renter share make it a desirable location for subsidized housing programs.
In summary, ZIP 89557 stands out as a premium sub-market within the Reno, NV HUD Metro FMR Area, given its higher FMR relative to the market rent. The complete reliance on rentals without corresponding home value data complicates the classification but points towards a unique segment of the market that could be particularly advantageous for landlords participating in the Section 8 program. Landlords should consider this ZIP code for its potential to offer stable rental income supported by federal subsidies, especially if they can secure properties at a reasonable cost despite the high FMR.
Data Sources: FMR data from HUD (2027). 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.