Location: Denver-Aurora-Centennial, CO | Metro: Denver-Aurora-Centennial, CO MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,010 |
| 1 Bedroom | $2,100 |
| 2 Bedrooms | $2,490 |
| 3 Bedrooms | $3,270 |
| 4 Bedrooms | $3,650 |
| 5 Bedrooms | $4,234 |
| 6 Bedrooms | $4,742 |
| 7 Bedrooms | $5,121 |
| 8 Bedrooms | $5,377 |
U.S. Census Bureau data (2024)
Aurora’s 80016 ZIP code represents the master-planned communities of Southeast Aurora, characterized by sprawling suburban developments, open spaces, and a family-centric atmosphere. This area serves as a major employment hub, notably hosting the Anschutz Medical Campus and the University of Colorado Hospital, which anchor the local economy with high-paying medical and research jobs. The neighborhood is defined by newer construction and a distinct shift away from urban density, appealing to residents seeking proximity to Denver without the inner-city pace.
From a numerical standpoint, the HUD Fair Market Rent (FMR) for a 2-bedroom unit stands at $2,390, significantly above the current market rent of $1,991, creating a positive spread of $399. This premium position is supported by a robust housing market where the median home value is $740,022 and the median 2-bedroom sale price reaches $542,246. Despite these high asset values, inventory moves relatively quickly with a median of 51 days on market, indicating sustained buyer interest even at elevated price points.
With a median household income of $150,492 and a renter share of just 21.5%, the tenant pool is affluent but shallow, largely comprised of professionals drawn to the area’s top-rated Cherry Creek School District. While local transit options are limited compared to the metro core, the abundance of retail amenities along E-470 and the reputation for safety sustain high demand. For Section 8 landlords, this demographic implies a tenant base that values stability and school quality, often resulting in lower turnover rates than in lower-income districts.
The strongest investor angle in 80016 is stability combined with strong cash-flow potential through the Housing Choice Voucher program. The $399 gap between the 2-bedroom FMR and market rent allows investors to secure guaranteed payments that exceed typical local leases, while the high median income suggests a neighborhood that will maintain property values. Although the renter population is small, the HUD premiums offer a buffer against market softness, making this an ideal target for investors seeking reliable, above-market yields in a high-appreciation suburb.
Data Sources: FMR data from HUD (2027). 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.