Location: Denver-Aurora-Centennial, CO | Metro: Denver-Aurora-Centennial, CO MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,740 |
| 1 Bedroom | $1,820 |
| 2 Bedrooms | $2,160 |
| 3 Bedrooms | $2,830 |
| 4 Bedrooms | $3,170 |
| 5 Bedrooms | $3,677 |
| 6 Bedrooms | $4,118 |
| 7 Bedrooms | $4,447 |
| 8 Bedrooms | $4,669 |
The ZIP code 80046, located within the Denver-Aurora-Centennial, CO MSA, has a Federal Market Rent (FMR) of $2190 for the fiscal year 2024. This figure is key for understanding how this area compares to others within the larger metropolitan statistical area. The FMR is set by the U.S. Department of Housing and Urban Development (HUD) and represents the maximum amount that HUD will pay for rental housing in an area.
When considering the typical FMR for ZIP codes within the Denver-Aurora-Centennial, CO MSA, it's important to note that $2190 is a specific value that can indicate the relative cost of living in 80046 compared to other areas. If the average FMR across the Denver-Aurora-Centennial, CO MSA is higher, then 80046 could be considered a value pocket where rents are lower, making it potentially attractive for Section 8 tenants who have limited budgets.
The lack of data on market rent and home values for ZIP 80046 makes direct comparisons difficult, but we can infer that if the FMR is lower than what might be expected in a typical ZIP code within the MSA, it suggests that this area is less expensive overall. This would be particularly beneficial for landlords and small-portfolio investors looking to maximize their returns while still providing affordable housing options.
Without a specific percentage for the renter share, it's challenging to determine exactly how many residents are likely to rely on Section 8 vouchers. However, a high renter share combined with below-average home values in other ZIP codes within the same MSA can often signal a sweet spot for Section 8 properties, as it indicates a concentration of renters who may benefit from subsidized housing.
To conclude, based on the available data, ZIP 80046 appears to be a value pocket within the Denver-Aurora-Centennial, CO MSA. Its FMR of $2190 suggests that it offers lower rents compared to other areas in the metro, which can be advantageous for both landlords and tenants participating in the Section 8 program. For landlords, this means the potential for a stable tenant base willing to pay a consistent rent amount, while for investors, it may represent an opportunity to acquire property at a lower cost compared to premium sub-markets within the MSA.
Data Sources: FMR data from HUD (2027).
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.