Location: Greeley, CO | Metro: Denver-Aurora-Centennial, CO MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,990 |
| 1 Bedroom | $2,090 |
| 2 Bedrooms | $2,470 |
| 3 Bedrooms | $3,240 |
| 4 Bedrooms | $3,620 |
| 5 Bedrooms | $4,199 |
| 6 Bedrooms | $4,703 |
| 7 Bedrooms | $5,079 |
| 8 Bedrooms | $5,333 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,470 | $611,508 | 0.4% | F |
| 3BR | $3,240 | $687,241 | 0.47% | F |
| 4BR | $3,620 | $895,260 | 0.4% | F |
| 5BR | $4,199 | $1,116,155 | 0.38% | F |
U.S. Census Bureau data (2024)
ZIP code 80023, located in Broomfield, CO, is positioned within the larger Greeley, CO Metropolitan Statistical Area (MSA). Comparing its key metrics to those of typical ZIP codes within the Greeley MSA reveals several noteworthy characteristics that define its market position.
The Fair Market Rent (FMR) for ZIP 80023 in fiscal year 2024 is set at $2,660. This figure is higher than the market rent of $2,055, indicating a potentially subsidized rental environment that favors low-income tenants. The FMR is determined by the U.S. Department of Housing and Urban Development (HUD) and serves as a benchmark for affordable housing programs such as Section 8.
The median home value in ZIP 80023 is $825,345, which is significantly above the average for typical Greeley MSA ZIP codes. This suggests that it may be considered a premium sub-market within the metro area, attracting higher-income residents who can afford more expensive homes.
The renter share in ZIP 80023 stands at 24.8%, which is notably higher than the average for the Greeley MSA. However, despite this higher renter share, the home values remain elevated, pointing towards a diverse housing market where both homeownership and renting coexist.
A divergence worth noting is the combination of a relatively high renter share with above-average home values. This scenario can signal a potential sweet spot for Section 8 landlords and investors, as it indicates a significant number of renters who might benefit from the housing assistance program, while also maintaining a premium residential environment.
In summary, ZIP 80023 appears to be a premium sub-market within the Greeley, CO MSA, characterized by high home values and an above-average renter share. Landlords and investors should consider the opportunities presented by the Section 8 program, given the favorable conditions for subsidized rentals amidst otherwise high-value properties.
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.