Real Estate Investing in Fallon, Nevada (89406)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 89406 (Fallon, NV)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.0% vacancy may signal weakening demand.
What’s happening in Fallon, NV (89406)?
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Market Analysis: 89406 Fallon
Not every below-median market is a bargain. Fallon's 89406 ZIP reports signals that favor experienced operators who can absorb the risk $395K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $395K asset, 89406 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 89406 among NV's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 89406 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 89406 is an operator game, not a passive one. Meanwhile, entry prices of $395K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Fallon:
Property Strategy for 89406
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $253,437 | $1,420 | 4.0% | +5.9% | $126,719 |
| 3BR | $379,046 | $1,970 | 3.7% | +7.0% | $126,349 |
| 4BR | $449,765 | $2,170 | 3.5% | +7.3% | $112,441 |
| 5BR | $556,229 | — | — | +6.8% | $111,246 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 89406 Compare?
| Metric | 89406 | Fallon | Fallon, NV | Nevada |
|---|---|---|---|---|
| Home Value | $395,354 | $197,677 | N/A | $444,019 |
| 5-Year CAGR | 4.1% | 4.1% | N/A | 6.8% |
| Avg Rent | $1,738 | $1,738 | N/A | - |
| Cap Rate | 3.4% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 89406 (Fallon, NV). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $395,354 |
| Monthly Rent | $1,738 |
| Price-to-Rent | 19.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +4.4% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +4.1% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 Rent Trends
| 1-Year | +19.6% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 89406
Population: 25,536
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 89406
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What is the typical vacancy rate in Fallon, NV?
Occupancy in Fallon, NV runs measured with elevated vacancy. Well-priced units at $1,738/mo lease on reasonable timelines.
What is the tenant pool like in Fallon, NV?
The tenant pool in Fallon, NV is solid, supported by local employment and population fundamentals. Rents of $1,738/mo are well-absorbed by the market.
How strict are landlord regulations in Fallon, NV?
Rental owners in Fallon, NV deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Is Fallon, NV good for house hacking?
The house hack math a challenging in Fallon, NV. Owner-occupant buyers benefit from the $1,738/mo rents and $395K home values.
How should investors approach Fallon, NV?
In Fallon, NV the sturdy play is typically careful cash-flow rentals with hands-on management. The combination of $395K prices and $1,738/mo rents suits that approach.
You know 89406 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 89406 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
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