Location: Eureka County, NV | Metro: Elko County, NV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 89822, located in Eureka County, NV, reveals several key points that landlords and small-portfolio investors should consider. The Fair Market Rent (FMR) set by HUD for the metro area, effective in fiscal year 2026, is $1,520. This figure is significantly higher than the average market rent reported by the Census ACS, which stands at $1,197. This difference suggests that voucher tenants will generally cashflow positively at the FMR rate, providing a substantial buffer against potential rental shortfalls.
To further understand the investment landscape, the median home value in ZIP 89822 is $216,329. Using this figure, we can derive a rent-to-price ratio. With an average market rent of $1,197, the annual rent would be approximately $14,364. This translates into a rent-to-price ratio of roughly 6.6%, calculated as ($14,364 / $216,329) * 100. A higher rent-to-price ratio indicates that rental income represents a larger portion of the property's value, making it more attractive for investors seeking rental income.
The data on median Days on Market (DOM) and the percentage of properties that experience price cuts is not available. However, these metrics are crucial for understanding the dynamics between renting and buying in the area. In their absence, we must rely on the other indicators to make informed decisions. Given the positive cashflow from voucher tenants and the favorable rent-to-price ratio, the primary investor angle in ZIP 89822 is cashflow, offering a strong and reliable financial return on investment.
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.