Location: Elko County, NV | Metro: Elko County, NV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 89828, which encompasses parts of Las Vegas, Nevada, is characterized by a Fixed Monthly Rent (FMR) of $1,530 for fiscal year 2026. This figure is set by HUD and reflects the federal government's estimate of fair market rent for the area. While specific market rent data is currently unavailable, the FMR serves as a benchmark for understanding the cost of living in this region.
The absence of recent market rent data, days on market (DOM), and median home value suggests that the market may be experiencing some volatility or that there is limited publicly available information. However, the 17.3% share of renters indicates a significant portion of the population relies on the rental market for housing. This high percentage of renters can be indicative of long-term housing pressure, where owning a home is less feasible for many residents due to economic factors such as income levels, job availability, or the cost of homeownership.
In markets with a substantial renter base, the dynamics often favor demand over supply. Landlords and small-portfolio investors should be aware that maintaining competitive rents and ensuring properties are well-managed and attractive can be crucial to securing tenants in what appears to be a tight rental environment. The lack of data on price-cut shares also points towards a market where negotiations might not be as prevalent, suggesting that landlords who offer desirable units at reasonable rates could see strong occupancy levels.
The high proportion of renters in ZIP 89828 signals a potentially robust and steady demand for rental properties. For investors, this means that while competition among landlords might exist, the overall need for rental housing is likely to remain consistent, making it a stable investment opportunity. However, without specific market rent data, it is challenging to provide a precise comparison between market conditions and the FMR. Nonetheless, the trajectory inferred from the snapshot suggests an environment where the rental market plays a pivotal role in meeting the housing needs of a diverse population.
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.