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 | $1,880 |
| 1 Bedroom | $1,970 |
| 2 Bedrooms | $2,330 |
| 3 Bedrooms | $3,060 |
| 4 Bedrooms | $3,420 |
| 5 Bedrooms | $3,967 |
| 6 Bedrooms | $4,443 |
| 7 Bedrooms | $4,798 |
| 8 Bedrooms | $5,038 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,970 | $1,275,713 | 0.15% | F |
| 2BR | $2,330 | $653,820 | 0.36% | F |
| 3BR | $3,060 | $737,150 | 0.42% | F |
| 4BR | $3,420 | $870,485 | 0.39% | F |
| 5BR | $3,967 | $1,100,353 | 0.36% | F |
U.S. Census Bureau data (2024)
The ZIP code 80108, located in Castle Pines, Colorado, has a population of 36,730 residents, with 17.4% being renters. This indicates that it is primarily a homeowner-dominated area, rather than a renter-heavy zone. The median household income stands at a robust $181,049, which places it in a high-income bracket relative to national averages.
In terms of rental costs, the market rent for the area is $2,433 per month. To put this into perspective, typical rent consumes approximately 13.4% of the local median income. This percentage is calculated by dividing the monthly market rent ($2,433) by the annual median household income ($181,049), then multiplying by 12 to annualize the rent figure. This relatively low percentage suggests that most residents can comfortably afford rent without needing assistance.
Comparing the market rent to the Fair Market Rent (FMR) of $2,530 for FY 2024, it's evident that the market rent is slightly below the FMR. This means that landlords in this area could potentially qualify for Section 8 vouchers, but the overall demand for such vouchers might be lower due to the high median income and the smaller proportion of renters.
A landlord in ZIP 80108 should expect tenants who are likely to be financially stable and capable of paying rent on their own. While some tenants may still use Section 8 vouchers, the prevalence is expected to be less compared to areas with higher percentages of renters and lower median incomes. The typical tenant profile would include individuals or families who can afford a significant portion of their income towards rent, indicating a preference for quality living spaces and amenities that are characteristic of the area.
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.