Location: Elko County, NV | Metro: Elko County, NV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,370 |
| 5 Bedrooms | $2,749 |
| 6 Bedrooms | $3,079 |
| 7 Bedrooms | $3,325 |
| 8 Bedrooms | $3,491 |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 89831, located in Elko County, NV, presents a unique set of opportunities and challenges for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the metro area, effective for fiscal year 2026, is set at $1,550 per month. However, the current market rent for the area is not available, which complicates the direct comparison between the HUD FMR and the actual rental prices.
Given the absence of specific market rent data, it's critical to assess the potential cash flow from voucher tenants based on the HUD FMR. In ZIP 89831, voucher tenants will likely cashflow at the FMR rate, assuming that the HUD FMR is above the average market rent. This scenario would allow landlords to maintain positive cash flow without significant adjustments to their rental strategies.
The median home value in the area is also not provided, making it challenging to calculate an exact rent-to-price ratio. Nonetheless, this ratio is typically used to gauge the relative affordability of renting versus buying. In the absence of this ratio, we can infer that the lack of detailed local market rent data suggests a potentially stable market where rental income closely matches the HUD FMR.
The days on market (DOM) and the percentage of homes that require price cuts are not specified, but these metrics are crucial for understanding the broader real estate dynamics. If the DOM is relatively low and the price cut percentage is minimal, it indicates a strong rental market where investors can benefit from both cash flow and stability.
In conclusion, the strongest angle for investors in ZIP 89831 is cash flow, given the alignment between the HUD FMR and what is expected to be the average market rent. This makes the area particularly attractive for those seeking consistent and reliable rental income through Section 8 vouchers.
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.