Section 8 Fair Market Rent (FMR) for ZIP 80209 - 2027

Location: Denver-Aurora-Centennial, CO | Metro: Denver-Aurora-Centennial, CO MSA

Investment Score for ZIP 80209

Monthly Rent (2BR)

$2,430

Median Price (2BR)

$672,350

1% Rule

0.36%

Annual Yield

4.34%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,960
1 Bedroom	$2,050
2 Bedrooms	$2,430
3 Bedrooms	$3,190
4 Bedrooms	$3,570
5 Bedrooms	$4,141
6 Bedrooms	$4,638
7 Bedrooms	$5,009
8 Bedrooms	$5,259

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,050	$352,128	0.58%	F
2BR	$2,430	$672,350	0.36%	F
3BR	$3,190	$1,029,213	0.31%	F
4BR	$3,570	$1,527,740	0.23%	F
5BR	$4,141	$2,399,853	0.17%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

27,564

Median Household Income

$125,733

Housing Units

16,362

Renter Percentage

51.5%

Occupancy Rate

93.2%

Renter Occupied

7,850

The ZIP code 80209 in Denver, Colorado, is a prime location for real estate investment, particularly for those interested in the rental market. This area is known for its high-end residential properties and proximity to urban amenities, making it attractive to both renters and homeowners.

Fair Market Rent (FMR) for ZIP 80209 in fiscal year 2024 is set at $2570. This figure represents the maximum amount that a tenant can be expected to pay for housing under the Section 8 program, indicating a robust demand for affordable rentals in the area.
The market rent, as measured by ZORI (Zillow Observed Rent Index), is $2,134. This suggests that the actual rents being charged are slightly below the FMR, which could be an opportunity for landlords to increase their rental income without exceeding affordability thresholds.
The median home value in ZIP 80209 is $967,294. This high median value reflects the area's upscale character and can influence property values and rental rates positively.
Renters make up 51.5% of the population in this ZIP code. This indicates a strong rental market, with a majority of residents preferring to lease rather than own their homes.
The average Days on Market (DOM) for rental listings is 42 days. This relatively short period suggests that there is a good balance between supply and demand, allowing landlords to quickly fill vacancies.
The median household income in ZIP 80209 is $125,733. This high income level supports the ability of residents to afford higher rents and contributes to the overall economic stability of the area.

Investors looking to capitalize on the rental market in ZIP 80209 should consider the combination of a high median home value and a majority renter population as key indicators of potential success. The close alignment between the market rent and the FMR also presents opportunities to adjust pricing strategies while remaining competitive and attractive to Section 8 tenants. With a median income well above the national average, the area is primed for steady cash flow and low vacancy rates, making it a favorable choice for both landlords and small-portfolio investors seeking stable returns.

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.