Skip to main content
Loading page
Washoe County/Reno/89503

89503

ZIPSAFMR
Washoe County, NV
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,170$1,060
1 BR$1,350$1,490
2 BR$1,690$1,820
3 BR$2,290$2,310
4 BR$2,660$2,760
5 BR$3,059Not available
6 BR$3,518Not available
7 BR$4,046Not available
8 BR$4,652Not available

Purchase Price Calculator

Maximum purchase price
$208,535

Cost breakdown

+Likely effective rent$1,820
HUD FMR$1,690
Market rent$1,890
Est. payment standard (108%)Used$1,820
-Principal and interest-$1,054
Loan amount$166,828
Down payment$41,707
Rate6.50%
Term30 years
-Operating costs-$566
Property taxes-$209
Insurance-$175
Utilities$0
HOA$0
Management-$182
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,211(70.0% ROI)
Projected value
$224,569
Return breakdown
Property appreciation+$16,034
Loan principal paid down+$5,977
Rental cash flow+$7,200
5-year hold
+$50,062(120.0% ROI)
Projected value
$235,938
Return breakdown
Property appreciation+$27,403
Loan principal paid down+$10,659
Rental cash flow+$12,000
10-year hold
+$107,805(258.5% ROI)
Projected value
$266,942
Return breakdown
Property appreciation+$58,407
Loan principal paid down+$25,398
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.10
1 BR
0.86
2 BR
0.89
3 BR
0.99
4 BR
0.94
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 89503 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 89503 (Reno, NV) is $1,690 a month. That is up 0.6% from $1,680 in FY 2026. Reno 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, 89503 is tied for the 29th-highest two-bedroom rent (county range $1,690–$2,500). The median county two-bedroom FMR in Nevada is $1,327, so ZIP 89503 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 89503
BedroomsFY 2027Change90–110% range
Studio$1,170+0.9%$1,053–$1,287
1BR$1,350+0.7%$1,215–$1,485
2BR$1,690+0.6%$1,521–$1,859
3BR$2,290+0.4%$2,061–$2,519
4BR$2,660+0.4%$2,394–$2,926

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 89503
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,170$1,350$1,690$2,290$2,660
FY 2026$1,160$1,340$1,680$2,280$2,650
FY 2025$970$1,140$1,430$2,010$2,410
FY 2024$960$1,140$1,430$2,030$2,430
FY 2023$940$1,120$1,410$2,000$2,400

Two-bedroom rent in nearby Washoe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 89503
89501$1,6900.0%
89502$1,6900.0%
89503Current$1,690—
89504$1,840+8.9%
89505$1,840+8.9%
89506$2,090+23.7%
89507$1,840+8.9%
89508$2,350+39.1%
89509$1,820+7.7%
89510$2,010+18.9%
89511$2,210+30.8%
89512$1,6900.0%

Questions about ZIP 89503 rents

How much will Section 8 pay for a two-bedroom in ZIP 89503?

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 $1,690 it would be $1,521 to $1,859. 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 89503 in?

ZIP 89503 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 89503 for FY 2027?

The two-bedroom FMR rose 0.6%, from $1,680 in FY 2026 to $1,690 in FY 2027. Since FY 2023 it has risen 19.9%.

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