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 | $1,590 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,580 |
| 4 Bedrooms | $2,890 |
| 5 Bedrooms | $3,352 |
| 6 Bedrooms | $3,754 |
| 7 Bedrooms | $4,054 |
| 8 Bedrooms | $4,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,660 | $386,581 | 0.43% | F |
| 2BR | $1,970 | $480,798 | 0.41% | F |
| 3BR | $2,580 | $604,746 | 0.43% | F |
| 4BR | $2,890 | $1,202,988 | 0.24% | F |
| 5BR | $3,352 | $3,520,554 | 0.1% | F |
U.S. Census Bureau data (2024)
The ZIP code 80113, located in Cherry Hills Village, Colorado, stands out within Arapahoe County due to its unique demographic and economic characteristics. With a population of 22,976, it has a rental rate of 47.6%, indicating a substantial portion of residents prefer leasing over homeownership. The median household income in this area is $96,590, reflecting a relatively affluent community. Notably, the median home value reaches an impressive $646,666, underscoring the high-end nature of the housing market.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 80113 is set at $1,980 for the fiscal year 2024, which is notably higher than the market rent of $1,794 (ZORI). This discrepancy suggests that landlords participating in the Section 8 program can potentially charge more for their units compared to the average market rate, making it an attractive option for those looking to maximize their rental income while still providing affordable housing options.
Analyzing the data signature of ZIP 80113, it reads as stable. The combination of a robust median income, a significant percentage of renters, and a high median home value indicates a mature market with established financial patterns. The higher FMR compared to ZORI further supports the stability, as it ensures a consistent and reliable income stream for landlords who accept Section 8 vouchers. This ZIP code presents a solid opportunity for landlords and small-portfolio investors looking to engage in a stable and lucrative rental market.
Landlords in Cherry Hills Village should take advantage of these conditions by ensuring their properties meet the necessary standards for the Section 8 program. They can also leverage the higher FMR to secure better rental agreements while still offering affordable housing options to eligible tenants. The stable environment of ZIP 80113 provides a predictable framework for investment, minimizing risks associated with market fluctuations.
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.