Location: Denver-Aurora-Centennial, CO | Metro: Denver-Aurora-Centennial, CO MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,000 |
| 1 Bedroom | $2,090 |
| 2 Bedrooms | $2,480 |
| 3 Bedrooms | $3,250 |
| 4 Bedrooms | $3,640 |
| 5 Bedrooms | $4,222 |
| 6 Bedrooms | $4,729 |
| 7 Bedrooms | $5,107 |
| 8 Bedrooms | $5,362 |
U.S. Census Bureau data (2024)
ZIP code 80203, located in Denver, CO, is situated within the larger Denver-Aurora-Centennial, CO MSA. To understand its position relative to other ZIP codes in the MSA, we can analyze several key metrics: Fair Market Rent (FMR), market rent, home value, and renter share.
The Fair Market Rent for ZIP 80203 in fiscal year 2024 is set at $2570. This figure is significantly higher than the market rent of $1,528, indicating that subsidized housing through Section 8 may be more valuable here compared to what the market typically offers. The discrepancy between FMR and market rent suggests that landlords who participate in Section 8 could benefit from higher rental rates than those obtained through standard market leases.
The median home value in ZIP 80203 is $357,729. While this represents a substantial investment, it is lower than the typical home values found across the Denver-Aurora-Centennial, CO MSA. This places 80203 in a category of being a mid-tier neighborhood within the broader metro area, offering homeownership opportunities at a price point that is somewhat below average for the region.
A notable feature of ZIP 80203 is its high renter share of 78.2%. This percentage is considerably above the national average and suggests a strong demand for rental properties. High renter shares often correlate with areas where Section 8 vouchers are commonly used, as they attract tenants who rely on government assistance for housing. Given the combination of a high renter share and below-average home values, ZIP 80203 emerges as a potential value pocket for landlords and small-portfolio investors looking to capitalize on the subsidized housing market.
In summary, ZIP 80203 stands out within the Denver-Aurora-Centennial, CO MSA as a mid-tier neighborhood with a strong rental market and a significant number of residents who might use Section 8 vouchers. Its relatively lower home values contrast with a higher FMR, making it an attractive location for those interested in Section 8 properties.
Data Sources: FMR data from HUD (2027). 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.