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Lyon County/Fernley/89408

89408

ZIPSAFMR
Lyon County, NV
Zillow

ZIP Investment Score

69Below average

095130300
BRFMR
Eff. Rent
0 BR$1,260$1,260
1 BR$1,270$1,270
2 BR$1,500$1,500
3 BR$2,080$2,080
4 BR$2,510$2,510
5 BR$2,887Not available
6 BR$3,319Not available
7 BR$3,817Not available
8 BR$4,390Not available

Purchase Price Calculator

Maximum purchase price
$160,983

Cost breakdown

+Likely effective rent$1,500
HUD FMRUsed$1,500
Market rentN/A
Est. payment standardN/A
-Principal and interest-$814
Loan amount$128,786
Down payment$32,197
Rate6.50%
Term30 years
-Operating costs-$486
Property taxes-$161
Insurance-$175
Utilities$0
HOA$0
Management-$150
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,192(75.1% ROI)
Projected value
$173,361
Return breakdown
Property appreciation+$12,378
Loan principal paid down+$4,614
Rental cash flow+$7,200
5-year hold
+$41,383(128.5% ROI)
Projected value
$182,137
Return breakdown
Property appreciation+$21,154
Loan principal paid down+$8,228
Rental cash flow+$12,000
10-year hold
+$88,695(275.5% ROI)
Projected value
$206,072
Return breakdown
Property appreciation+$45,089
Loan principal paid down+$19,606
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 89408 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 89408 (Fernley, NV) is $1,500 a month. That is up 0.7% from $1,490 in FY 2026. Fernley is in the Lyon County, NV HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,279. Among 10 ZIP codes in Lyon County, 89408 has the 4th-highest two-bedroom rent (county range $1,150–$1,690). The median county two-bedroom FMR in Nevada is $1,327, so ZIP 89408 is 13% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 89408
BedroomsFY 2027Change90–110% range
Studio$1,260+0.8%$1,134–$1,386
1BR$1,270+0.8%$1,143–$1,397
2BR$1,500+0.7%$1,350–$1,650
3BR$2,080+0.5%$1,872–$2,288
4BR$2,510+0.4%$2,259–$2,761

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 89408
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,260$1,270$1,500$2,080$2,510
FY 2026$1,250$1,260$1,490$2,070$2,500
FY 2025$1,230$1,240$1,450$2,030$2,430
FY 2024area FMR$1,006$1,052$1,225$1,726$2,079
FY 2023area FMR$834$926$1,097$1,559$1,869

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Lyon County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 89408
89403$1,690+12.7%
89406$1,370−8.7%
89408Current$1,500—
89428$1,520+1.3%
89429$1,210−19.3%
89430$1,200−20.0%
89442$1,690+12.7%
89444$1,450−3.3%
89447$1,150−23.3%
89706$1,430−4.7%

Questions about ZIP 89408 rents

How much will Section 8 pay for a two-bedroom in ZIP 89408?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,279, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,151 to $1,407 a month; under the ZIP-level Small Area FMR of $1,500 it would be $1,350 to $1,650. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 89408 in?

ZIP 89408 is in the Lyon County, NV HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,279.

How much did fair market rent change in ZIP 89408 for FY 2027?

The two-bedroom FMR rose 0.7%, from $1,490 in FY 2026 to $1,500 in FY 2027. Since FY 2025 it has risen 3.4%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentFernley, NV fair market rentNV statewide rentsWhat is SAFMR?Data sources