Location: Denver-Aurora-Centennial, 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 | $1,800 |
| 1 Bedroom | $1,880 |
| 2 Bedrooms | $2,230 |
| 3 Bedrooms | $2,930 |
| 4 Bedrooms | $3,270 |
| 5 Bedrooms | $3,793 |
| 6 Bedrooms | $4,248 |
| 7 Bedrooms | $4,588 |
| 8 Bedrooms | $4,817 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,880 | $187,269 | 1% | B |
| 2BR | $2,230 | $388,756 | 0.57% | F |
| 3BR | $2,930 | $487,620 | 0.6% | D |
| 4BR | $3,270 | $596,164 | 0.55% | F |
| 5BR | $3,793 | $706,754 | 0.54% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 80031, Westminster, Colorado, is set at $2460 for the fiscal year 2024. This figure represents the maximum amount that a landlord can receive from the government under the Section 8 program, but it does not dictate the rent you charge your tenants. The FMR serves as a benchmark for determining the payment standard for vouchers.
In contrast, the Zillow Observed Rent Index (ZORI), which reflects the actual rents being paid by tenants in the area, stands at $2,149. This indicates that the average market rent is slightly below the FMR, suggesting that if you participate in the Section 8 program, you will be receiving a higher payment compared to typical market rates.
The 30.3% renter share in Westminster points to a strong demand for rental properties. With such a significant portion of residents renting, there's a high likelihood that your property will attract interested tenants. Moreover, the median home value in the area is around $509,324, which can influence your decision on whether to acquire a new property or use an existing one for Section 8 rentals.
Before proceeding with your first Section 8 rental, ensure you verify the physical condition of your property against HUD's Housing Quality Standards (HQS). This is crucial because the property must meet these standards to qualify for the program. If you fail to do so, you risk delays in getting approved and could face additional costs to bring the property up to code.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.