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Washoe County/Reno/89506

89506

ZIPSAFMR
Washoe County, NV
Zillow

ZIP Investment Score

69Below average

095130300
BRFMR
Eff. Rent
0 BR$1,460$1,610
1 BR$1,660$1,800
2 BR$2,090$1,990
3 BR$2,790$2,250
4 BR$3,230$2,710
5 BR$3,714Not available
6 BR$4,272Not available
7 BR$4,912Not available
8 BR$5,649Not available

Purchase Price Calculator

Maximum purchase price
$233,797

Cost breakdown

+Likely effective rent$1,990
HUD FMR$2,090
Market rentUsed$1,990
Est. payment standard (97%)$2,030
-Principal and interest-$1,182
Loan amount$187,037
Down payment$46,759
Rate6.50%
Term30 years
-Operating costs-$608
Property taxes-$234
Insurance-$175
Utilities$0
HOA$0
Management-$199
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,878(68.2% ROI)
Projected value
$251,773
Return breakdown
Property appreciation+$17,977
Loan principal paid down+$6,701
Rental cash flow+$7,200
5-year hold
+$54,673(116.9% ROI)
Projected value
$264,519
Return breakdown
Property appreciation+$30,723
Loan principal paid down+$11,950
Rental cash flow+$12,000
10-year hold
+$117,957(252.3% ROI)
Projected value
$299,280
Return breakdown
Property appreciation+$65,483
Loan principal paid down+$28,474
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.78
1 BR
0.89
2 BR
1.05
3 BR
1.24
4 BR
1.19
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 89506 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 89506 (Reno, NV) is $2,090 a month. That is unchanged from 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, 89506 has the 11th-highest two-bedroom rent (county range $1,690–$2,500). The median county two-bedroom FMR in Nevada is $1,327, so ZIP 89506 is 57% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 89506
BedroomsFY 2027Change90–110% range
Studio$1,460+1.4%$1,314–$1,606
1BR$1,6600.0%$1,494–$1,826
2BR$2,0900.0%$1,881–$2,299
3BR$2,790−1.8%$2,511–$3,069
4BR$3,230−2.1%$2,907–$3,553

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 89506
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,460$1,660$2,090$2,790$3,230
FY 2026$1,440$1,660$2,090$2,840$3,300
FY 2025$1,280$1,490$1,870$2,590$3,030
FY 2024$1,150$1,350$1,700$2,400$2,870
FY 2023$1,140$1,360$1,710$2,430$2,910

Two-bedroom rent in nearby Washoe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 89506
89501$1,690−19.1%
89502$1,690−19.1%
89503$1,690−19.1%
89504$1,840−12.0%
89505$1,840−12.0%
89506Current$2,090—
89507$1,840−12.0%
89508$2,350+12.4%
89509$1,820−12.9%
89510$2,010−3.8%
89511$2,210+5.7%
89512$1,690−19.1%

Questions about ZIP 89506 rents

How much will Section 8 pay for a two-bedroom in ZIP 89506?

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 $2,090 it would be $1,881 to $2,299. 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 89506 in?

ZIP 89506 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 89506 for FY 2027?

The two-bedroom FMR was unchanged at $2,090 in FY 2027. Since FY 2023 it has risen 22.2%.

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