Storey County/Reno/89521

89521

ZIPSAFMR

Storey County, NV

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ZIP Investment Score

71Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,740	$1,910	4.4%
1 BR	$1,990	$2,120	3.6%
2 BR	$2,500	$2,410	3.6%
3 BR	$3,340	$2,600	1.8%
4 BR	$3,870	$3,210	0.6%
5 BR	$4,451	Not available	0.6%
6 BR	$5,118	Not available	0.6%
7 BR	$5,886	Not available	0.6%
8 BR	$6,769	Not available	0.6%

Purchase Price Calculator

Maximum purchase price

$296,209

Cost breakdown

+Likely effective rent$2,410

HUD FMR$2,500

Market rentUsed$2,410

Est. payment standard (98%)$2,440

-Principal and interest-$1,498

Loan amount$236,967

Down payment$59,242

Rate6.50%

Term30 years

-Operating costs-$712

Property taxes-$296

Insurance-$175

Utilities$0

HOA$0

Management-$241

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$38,466(64.9% ROI)

Projected value

$318,984

Return breakdown

Property appreciation+$22,776

Loan principal paid down+$8,490

Rental cash flow+$7,200

5-year hold

+$66,064(111.5% ROI)

Projected value

$335,133

Return breakdown

Property appreciation+$38,924

Loan principal paid down+$15,140

Rental cash flow+$12,000

10-year hold

+$143,039(241.4% ROI)

Projected value

$379,172

Return breakdown

Property appreciation+$82,963

Loan principal paid down+$36,076

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.85ratio

FMR$1,740

Market$2,050

vs market-$310

FMR is below market; voucher rent may lag private rents.

0.85

1 BR

0.91ratio

FMR$1,990

Market$2,190

vs market-$200

FMR is near market; voucher and private rents are aligned.

0.91

2 BR

1.04ratio

FMR$2,500

Market$2,410

vs market+$90

FMR is near market; voucher and private rents are aligned.

1.04

3 BR

1.28ratio

FMR$3,340

Market$2,600

vs market+$740

FMR is above market; underwrite to market rent.

1.28

4 BR

1.21ratio

FMR$3,870

Market$3,210

vs market+$660

FMR is above market; underwrite to market rent.

1.21

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 89521 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 89521 (Reno, NV) is $2,500 a month. That is down 3.5% from $2,590 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 6 ZIP codes in Storey County, 89521 has the highest two-bedroom rent (county range $1,690–$2,500). The median county two-bedroom FMR in Nevada is $1,327, so ZIP 89521 is 88% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 89521
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,790	$1,740	−2.8%	$1,566–$1,914
1BR	$2,060	$1,990	−3.4%	$1,791–$2,189
2BR	$2,590	$2,500	−3.5%	$2,250–$2,750
3BR	$3,520	$3,340	−5.1%	$3,006–$3,674
4BR	$4,080	$3,870	−5.1%	$3,483–$4,257

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 89521
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,740	$1,990	$2,500	$3,340	$3,870
FY 2026	$1,790	$2,060	$2,590	$3,520	$4,080
FY 2025	$1,630	$1,890	$2,380	$3,290	$3,850
FY 2024	$1,530	$1,790	$2,250	$3,170	$3,800
FY 2023	$1,580	$1,870	$2,360	$3,350	$4,020

Two-bedroom rent in nearby Storey County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 89521
89403	$1,690	−32.4%
89434	$2,150	−14.0%
89437	$1,690	−32.4%
89440	$2,200	−12.0%
89508	$2,350	−6.0%
89521Current	$2,500	—

Questions about ZIP 89521 rents

How much will Section 8 pay for a two-bedroom in ZIP 89521?

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 $2,500 it would be $2,250 to $2,750. 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 89521 in?

ZIP 89521 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 89521 for FY 2027?

The two-bedroom FMR fell 3.5%, from $2,590 in FY 2026 to $2,500 in FY 2027. Since FY 2023 it has risen 5.9%.

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 rent Reno, NV fair market rent NV statewide rents What is SAFMR?Data sources