Section 8 Fair Market Rent (FMR) for ZIP 80010 - 2027

Investment Score for ZIP 80010

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,480
1 Bedroom	$1,580
2 Bedrooms	$1,890
3 Bedrooms	$2,470
4 Bedrooms	$2,750
5 Bedrooms	$3,190
6 Bedrooms	$3,573
7 Bedrooms	$3,859
8 Bedrooms	$4,052

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,580	$249,900	0.63%	D
2BR	$1,890	$347,129	0.54%	F
3BR	$2,470	$398,081	0.62%	D
4BR	$2,750	$453,415	0.61%	D
5BR	$3,190	$480,402	0.66%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 80010 (Aurora, CO) #### Section 8 Voucher Dynamics In Aurora, CO (ZIP 80010), the Fair Market Rent (FMR) for a two-bedroom apartment is set at $1930 per month for 2026. This figure represents 36.4% of the median household income in the area, which stands at $63,579. However, the actual rent for a two-bedroom unit is significantly higher, with the Zillow median price being $346,877. The price-to-FMR ratio of 15.0x indicates that the actual rental prices are much higher than what is considered fair market rent. This disparity creates significant constraints for voucher holders. They may struggle to find units that accept their vouchers due to the high cost of living in the area. Landlords might be hesitant to accept Section 8 vouchers if they can secure higher rents from non-voucher tenants. Additionally, the voucher amount may not cover the full rent for many properties, leaving tenants with substantial out-of-pocket expenses. #### Affordability & Renter Profile The renter population in ZIP 80010 is quite large, comprising 59.9% of the total population. Given the occupancy rate of 93.2%, it suggests that the housing market is relatively tight, with most available units being occupied. The high percentage of renters and the occupancy rate indicate that there is a strong demand for rental properties in this area. However, affordability remains a critical issue. With the median household income at $63,579 and the FMR for a three-bedroom unit at $2520, the average family would need to spend approximately 40% of their income on rent. This leaves limited room for other essential expenses such as food, healthcare, and transportation. The tight market and high rent prices mean that many families may face financial strain, making it difficult for them to find affordable housing. #### Investor Angle From an investor perspective, the ZIP code 80010 presents both opportunities and challenges. The FMR for a two-bedroom unit is $1930, but the actual median rent is much higher at $346,877. This means that investors who can secure properties at or near the FMR level could potentially achieve positive cash flow, especially if they manage to attract non-voucher tenants willing to pay the higher market rates. However, the high price-to-FMR ratio of 15.0x suggests that the market is overpriced relative to what is considered fair. This could make it challenging to find properties that are priced at or below the FMR, particularly for two-bedroom units. Investors focusing on Section 8 vouchers should carefully consider the potential for lower returns and the difficulty in finding properties that will accept these vouchers. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors might want to focus on smaller units such as one-bedroom apartments. The FMR for a one-bedroom unit is $1620, which is significantly lower than the median price for a two-bedroom unit. This could provide better opportunities for achieving positive cash flow while still being accessible to voucher holders. 2. **Consider Outlying Areas**: While the core of ZIP 80010 may be overpriced, areas on the outskirts or neighboring ZIP codes might offer more affordable options. Investors should explore these regions to find properties that are closer to the FMR levels and thus more likely to be accepted by voucher holders. #### Bottom Line Given the high price-to-FMR ratio and the tight housing market, the recommendation for Section 8-focused investors in ZIP 80010 is to **Skip**. The current market conditions suggest that it would be difficult to find properties that are priced at or below the FMR, leading to lower returns and increased competition from non-voucher tenants. Investors looking to enter the Section 8 market should consider other ZIP codes where the price-to-FMR ratio is more favorable and the market is less competitive.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.