Section 8 Fair Market Rent (FMR) for ZIP 89883 - 2027

Location: Elko County, NV | Metro: Elko County, NV

Investment Score for ZIP 89883

N/A

Monthly Rent (2BR)

$1,380

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$950
1 Bedroom	$1,050
2 Bedrooms	$1,380
3 Bedrooms	$1,740
4 Bedrooms	$2,320
5 Bedrooms	$2,691
6 Bedrooms	$3,014
7 Bedrooms	$3,255
8 Bedrooms	$3,418

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,740	$297,188	0.59%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,604

Median Household Income

$48,645

Housing Units

2,464

Renter Percentage

42.5%

Occupancy Rate

90.9%

Renter Occupied

951

A landlord considering investing in ZIP code 89883 for Section 8 properties should follow this decision tree:

1) Does the Fair Market Rent (FMR) of $1,300 cover the debt service on a property valued at $298,293?

If the annual debt service on a property valued at $298,293 is less than or equal to $15,600 ($1,300 x 12 months), then the answer is yes. The FMR of $1,300 per month would be sufficient to cover the mortgage payments. However, if the debt service exceeds this amount, the answer is no.

2) Is the market rent of $611 above, at, or below the FMR?

The market rent of $611 is significantly below the FMR of $1,300. This indicates that there is potential for higher rental income if the property qualifies for Section 8 vouchers. If the market rent were above or equal to the FMR, it would suggest that the property might not be competitive without vouchers.

3) Are 42.5% renters plus N/A-day days on the market (DOM) indicative of enough demand?

The percentage of renters at 42.5% suggests a moderate level of rental demand. However, the lack of data on days on the market (DOM) makes it difficult to assess how quickly properties are being leased. If the DOM is low, indicating quick leasing times, then the demand is likely strong enough. Conversely, high DOM values would suggest weak demand.

Decision branches:

If yes to all three questions: The investment is favorable. The FMR covers debt service, the market rent is below FMR, and there is moderate rental demand with quick leasing times.
If yes to questions 1 and 2, but it depends on question 3: The investment is conditionally favorable. The FMR covers debt service, and the market rent is below FMR, but the demand needs further investigation to confirm.
If no to any of the first two questions: The investment is unfavorable. Either the FMR does not cover the debt service or the market rent is too close to the FMR, reducing the benefit of Section 8 vouchers.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.