Location: Douglas County, NV | Metro: Carson City, NV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $2,060 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
U.S. Census Bureau data (2024)
ZIP code 89701, located in Carson City, NV, sits within the Douglas County, NV metro area. Its Fiscal Year 2024 Fair Market Rent (FMR) of $1320 is notably lower than the market rent of $1704. This indicates that while the government's rental subsidy standards are set at $1320, the actual market conditions suggest a higher rent level, implying a potential gap where landlords can benefit from slightly higher rents without exceeding typical market rates.
The median home value in ZIP 89701 stands at $475,334, which is likely above average for the Douglas County metro but falls short of being considered a premium sub-market. This figure suggests that while property values are relatively high, they do not reach the levels typically associated with premium areas, indicating a middle-ground scenario for home values.
A significant portion of residents in 89701 are renters, with a renter share of 39.1%. This is higher than the national average, signaling a strong demand for rental properties. The combination of a high renter share and a below-market FMR could make 89701 an attractive location for landlords participating in the Section 8 program, as it aligns with the criteria of having a substantial number of tenants who might qualify for rental assistance.
In summary, ZIP 89701 appears to be a mid-tier neighborhood within the Douglas County, NV metro. It offers a balance between relatively high home values and a robust rental market, with a significant percentage of renters potentially benefiting from the Section 8 program. The discrepancy between the FMR and market rent suggests a value pocket for landlords looking to offer affordable housing options while still achieving competitive rental yields.
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.