Location: Denver-Aurora-Centennial, CO | Metro: Denver-Aurora-Centennial, CO MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,820 |
| 1 Bedroom | $1,910 |
| 2 Bedrooms | $2,260 |
| 3 Bedrooms | $2,970 |
| 4 Bedrooms | $3,320 |
| 5 Bedrooms | $3,851 |
| 6 Bedrooms | $4,313 |
| 7 Bedrooms | $4,658 |
| 8 Bedrooms | $4,891 |
U.S. Census Bureau data (2024)
The ZIP code 80204, located in Denver, CO, falls within the larger Denver-Aurora-Centennial, CO MSA metro area. Its Fair Market Rent (FMR) for the fiscal year 2024 is set at $2090, which is notably higher than the typical market rent of $1,933 for the same period. This indicates that properties in 80204 are more attractive for tenants seeking assistance through the Section 8 program, as they can afford slightly higher rents.
The median home value in 80204 stands at $533,032, which aligns closely with the average home values across the Denver-Aurora-Centennial, CO MSA. However, the renter share in 80204 is significantly higher at 62.8%, compared to the average for the broader metro area. This high proportion of renters suggests a strong demand for rental housing in the area, which is beneficial for landlords and small-portfolio investors looking to capitalize on the rental market.
Given the data, 80204 appears to be a premium sub-market within its metro area. The higher FMR compared to the market rent points to a scenario where landlords could potentially benefit from the Section 8 program, as tenants have access to funds that allow them to pay closer to the FMR. Additionally, the high renter share without a corresponding significant increase in home values implies that the area is likely to remain a desirable location for renters over the long term, thus offering steady returns for investors focused on rental income.
To summarize, 80204 is positioned as a premium sub-market due to its higher FMR and strong renter base. These factors make it an advantageous area for those interested in leveraging the Section 8 program for rental investments.
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.