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Washoe County/Reno/89523

89523

ZIPSAFMR
Washoe County, NV
Zillow

ZIP Investment Score

80Below average

095130300
BRFMR
Eff. Rent
0 BR$1,360$1,500
1 BR$1,560$1,720
2 BR$1,960$2,120
3 BR$2,620$2,600
4 BR$3,030$2,970
5 BR$3,484Not available
6 BR$4,007Not available
7 BR$4,608Not available
8 BR$5,299Not available

Purchase Price Calculator

Maximum purchase price
$253,115

Cost breakdown

+Likely effective rent$2,120
HUD FMR$1,960
Market rent$2,200
Est. payment standard (108%)Used$2,120
-Principal and interest-$1,280
Loan amount$202,492
Down payment$50,623
Rate6.50%
Term30 years
-Operating costs-$640
Property taxes-$253
Insurance-$175
Utilities$0
HOA$0
Management-$212
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,917(67.0% ROI)
Projected value
$272,577
Return breakdown
Property appreciation+$19,462
Loan principal paid down+$7,255
Rental cash flow+$7,200
5-year hold
+$58,199(115.0% ROI)
Projected value
$286,376
Return breakdown
Property appreciation+$33,261
Loan principal paid down+$12,937
Rental cash flow+$12,000
10-year hold
+$125,721(248.3% ROI)
Projected value
$324,008
Return breakdown
Property appreciation+$70,893
Loan principal paid down+$30,827
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.79
1 BR
0.86
2 BR
0.89
3 BR
1.01
4 BR
1.02
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 89523 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 89523 (Reno, NV) is $1,960 a month. That is down 3.9% from $2,040 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, 89523 has the 13th-highest two-bedroom rent (county range $1,690–$2,500). The median county two-bedroom FMR in Nevada is $1,327, so ZIP 89523 is 48% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 89523
BedroomsFY 2027Change90–110% range
Studio$1,360−3.5%$1,224–$1,496
1BR$1,560−3.7%$1,404–$1,716
2BR$1,960−3.9%$1,764–$2,156
3BR$2,620−5.4%$2,358–$2,882
4BR$3,030−5.9%$2,727–$3,333

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 89523
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,360$1,560$1,960$2,620$3,030
FY 2026$1,410$1,620$2,040$2,770$3,220
FY 2025$1,250$1,460$1,830$2,530$2,960
FY 2024$1,190$1,400$1,760$2,480$2,970
FY 2023$1,220$1,440$1,820$2,590$3,100

Two-bedroom rent in nearby Washoe County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 89523
89507$1,840−6.1%
89508$2,350+19.9%
89509$1,820−7.1%
89510$2,010+2.6%
89511$2,210+12.8%
89512$1,690−13.8%
89513$1,840−6.1%
89515$1,840−6.1%
89519$2,390+21.9%
89521$2,500+27.6%
89523Current$1,960—
89533$1,840−6.1%

Questions about ZIP 89523 rents

How much will Section 8 pay for a two-bedroom in ZIP 89523?

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 $1,960 it would be $1,764 to $2,156. 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 89523 in?

ZIP 89523 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 89523 for FY 2027?

The two-bedroom FMR fell 3.9%, from $2,040 in FY 2026 to $1,960 in FY 2027. Since FY 2023 it has risen 7.7%.

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

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