ZIP Code · NV

ZIP 89408

Part of Fernley, NV

Pop. 24,564·Lyon County·29th most expensive ZIP in Nevada

Median rent (all units)

$2,028/mo

Year-over-Year

+5.7%

Month-over-Month

+0.7%

vs US Median

+$96

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 89408 · $2,028

More expensive than 63% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,250

1 BR

$1,260

2 BR

$1,490

3 BR

$2,070

4 BR+

$2,500

Research median

$1,490/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

February. Asking rents in ZIP 89408 usually run 1.1% below trend in February and 1% above it in July, about $43 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 89408 is 0% below its high of $2,028 in July 2026, at $2,028 as of September 2026.

Past year vs. the rest of Nevada

Rent in ZIP 89408 changed +5.7% over the year to September 2026. Across the 77 Nevada ZIP codes Zillow tracks, the typical change was +2.0%.

Recent direction

Rent rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($89,552) is $2,239 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,070); a 4-bedroom is $2,500.

From Zillow's monthly rent index (ZORI) for ZIP 89408. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$24,336/yr

At $2,028/mo median

Location

CityFernley

StateNV

CountyLyon County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 5.7% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+5.7% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 89408 (Fernley, NV) is majority owner-occupied, has a median income above the national average, 16.4% of residents hold a bachelor's degree or higher.

Population

24,564

Median income

$89,552

Median age

36.3

Renters

28.3%

Age distribution

23.5%

24.3%

27%

15.2%

Under 1823.5%

18–3424.3%

35–5427%

55–6410%

65+15.2%

Gender

51.1%

48.9%

Male51.1%

Female48.9%

Race & ethnicity

72.4%

21.5%

White72.4%

Black1%

Hispanic21.5%

Asian2%

Other3.1%

Education (25+)

35.5%

37.9%

16.4%

No HS diploma10.2%

HS diploma35.5%

Some college37.9%

Bachelor's+16.4%

Housing tenure

71.7%

28.3%

Owner71.7%

Renter28.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 89408 in Fernley, NV has changed in 5 years

Rent

$1,545 → $2,028

up 31.3%

Income

$77,659 → $89,552

up 15.3%

Population

22,971 → 24,564

up 6.9%

Renter share

25.8% → 28.3%

+2.5 pts

Bachelor's+

14.8% → 16.4%

+1.6 pts

Five years ago, renters in ZIP 89408 in Fernley, NV paid around $1,545 a month. That figure now sits near $2,028, up 31.3% from the 2021 baseline. On the earnings side, the typical household in ZIP 89408 in Fernley, NV now reports about $89,552, up from $77,659 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 89408 in Fernley, NV adding about 1,593 residents over the five-year window, up 6.9% on net. The renter share has risen from 25.8% to 28.3%, with owner-occupied housing accounting for the remainder. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 89408 in Fernley, NV reflects that arc in its own way.

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About renting in ZIP 89408

Last updated: October 17, 2026

ZIP code 89408 covers Fernley, NV. The median rent here is $2,028/mo as of October 2026. A 1-bedroom rents for a median of $1,260/mo. A 2-bedroom rents for a median of $1,490/mo.

At 27% of local median household income ($89,552/yr), ZIP 89408 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 89408?

To keep rent at or below 30% of gross income, you would need to earn at least $81,000/year (about $39/hour full-time) to afford the median rent of $2,028/mo in ZIP 89408. The local median household income is $89,552/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 89408?

Rent in ZIP 89408 has risen 5.7% over the past year as of September 2026. It sits 0% below its high of $2,028 in July 2026.

When is the cheapest time to rent in ZIP 89408?

Asking rents in ZIP 89408 are usually lowest in February, about 1.1% below their yearly trend, and highest in July, about 1% above it. At today's median that is a gap of roughly $43 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 89408 compare to other ZIPs in Nevada?

ZIP 89408 is in the middle among Nevada ZIP codes for rent, ranking #29 of 82 at $2,028/mo. Over the year to September 2026, rent in ZIP 89408 changed +5.7%, against a typical +2.0% across the 77 Nevada ZIP codes Zillow tracks.