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Washoe County/Incline Village/89451

89451

ZIPSAFMR
Washoe County, NV
Zillow

ZIP Investment Score

32Below average

095130300
BRFMR
Eff. Rent
0 BR$1,640$1,800
1 BR$1,870$2,060
2 BR$2,350$2,590
3 BR$3,140$3,450
4 BR$3,640$4,000
5 BR$4,186Not available
6 BR$4,814Not available
7 BR$5,536Not available
8 BR$6,366Not available

Purchase Price Calculator

Maximum purchase price
$322,956

Cost breakdown

+Likely effective rent$2,590
HUD FMR$2,350
Market rent$2,920
Est. payment standard (110%)Used$2,590
-Principal and interest-$1,633
Loan amount$258,365
Down payment$64,591
Rate6.50%
Term30 years
-Operating costs-$757
Property taxes-$323
Insurance-$175
Utilities$0
HOA$0
Management-$259
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$41,289(63.9% ROI)
Projected value
$347,789
Return breakdown
Property appreciation+$24,832
Loan principal paid down+$9,257
Rental cash flow+$7,200
5-year hold
+$70,946(109.8% ROI)
Projected value
$365,396
Return breakdown
Property appreciation+$42,439
Loan principal paid down+$16,507
Rental cash flow+$12,000
10-year hold
+$153,788(238.1% ROI)
Projected value
$413,412
Return breakdown
Property appreciation+$90,455
Loan principal paid down+$39,333
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.86
1 BR
0.71
2 BR
0.80
3 BR
0.74
4 BR
0.66
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 89451 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 89451 (Incline Village, NV) is $2,350 a month. That is down 4.1% from $2,450 in FY 2026. Incline Village 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, 89451 is tied for the 5th-highest two-bedroom rent (county range $1,690–$2,500). The median county two-bedroom FMR in Nevada is $1,327, so ZIP 89451 is 77% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 89451
BedroomsFY 2027Change90–110% range
Studio$1,640−3.0%$1,476–$1,804
1BR$1,870−4.1%$1,683–$2,057
2BR$2,350−4.1%$2,115–$2,585
3BR$3,140−5.7%$2,826–$3,454
4BR$3,640−5.7%$3,276–$4,004

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 89451
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,640$1,870$2,350$3,140$3,640
FY 2026$1,690$1,950$2,450$3,330$3,860
FY 2025$1,580$1,830$2,300$3,180$3,720
FY 2024$1,460$1,710$2,150$3,030$3,630
FY 2023$1,500$1,780$2,240$3,180$3,820

Two-bedroom rent in nearby Washoe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 89451
89424$1,840−21.7%
89431$1,690−28.1%
89432$1,840−21.7%
89433$1,690−28.1%
89434$2,150−8.5%
89435$1,840−21.7%
89436$2,390+1.7%
89439$1,690−28.1%
89441$2,500+6.4%
89442$1,690−28.1%
89450$2,3500.0%
89451Current$2,350—

Questions about ZIP 89451 rents

How much will Section 8 pay for a two-bedroom in ZIP 89451?

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 $2,350 it would be $2,115 to $2,585. 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 89451 in?

ZIP 89451 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 89451 for FY 2027?

The two-bedroom FMR fell 4.1%, from $2,450 in FY 2026 to $2,350 in FY 2027. Since FY 2023 it has risen 4.9%.

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 rentIncline Village, NV fair market rentNV statewide rentsWhat is SAFMR?Data sources