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
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Mortgage rate
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ZIP 89435 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 89435 (Sparks, NV) is $1,840 a month. That is down 1.6% from $1,870 in FY 2026. Sparks is in the Reno, 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 $1,837. Among 39 ZIP codes in Washoe County, 89435 is tied for the 14th-highest two-bedroom rent (county range $1,690–$2,500). The median county two-bedroom FMR in Nevada is $1,327, so ZIP 89435 is 39% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 89435
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,290
$1,280
−0.8%
$1,152–$1,408
1BR
$1,490
$1,460
−2.0%
$1,314–$1,606
2BR
$1,870
$1,840
−1.6%
$1,656–$2,024
3BR
$2,540
$2,460
−3.1%
$2,214–$2,706
4BR
$2,950
$2,850
−3.4%
$2,565–$3,135
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 89435
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,280
$1,460
$1,840
$2,460
$2,850
FY 2026
$1,290
$1,490
$1,870
$2,540
$2,950
FY 2025
$1,180
$1,370
$1,720
$2,380
$2,780
FY 2024
$1,070
$1,260
$1,580
$2,230
$2,670
FY 2023
$1,060
$1,260
$1,590
$2,260
$2,710
Two-bedroom rent in nearby Washoe County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 89435?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,837, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,653 to $2,021 a month; under the ZIP-level Small Area FMR of $1,840 it would be $1,656 to $2,024. 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 89435 in?
ZIP 89435 is in the Reno, NV HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,837.
How much did fair market rent change in ZIP 89435 for FY 2027?
The two-bedroom FMR fell 1.6%, from $1,870 in FY 2026 to $1,840 in FY 2027. Since FY 2023 it has risen 15.7%.
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