Section 8 Fair Market Rent (FMR) for ZIP 80219 - 2027

Investment Score for ZIP 80219

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	$1,480
1 Bedroom	$1,580
2 Bedrooms	$1,890
3 Bedrooms	$2,470
4 Bedrooms	$2,750
5 Bedrooms	$3,190
6 Bedrooms	$3,573
7 Bedrooms	$3,859
8 Bedrooms	$4,052

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	$1,580	$295,490	0.53%	F
2BR	$1,890	$372,033	0.51%	F
3BR	$2,470	$431,529	0.57%	F
4BR	$2,750	$484,237	0.57%	F
5BR	$3,190	$533,043	0.6%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 80219 (Denver, CO) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 80219 is set by HUD for 2026. For a two-bedroom apartment, the FMR is $1930 per month. This represents 33.9% of the median household income of $68,415 in the area. The actual rental rates in the market can be significantly higher. According to Zillow, the median price for a two-bedroom home is $383,229, which translates to a monthly rent of approximately $1,650 based on a 5% annual rental yield. However, the price-to-FMR ratio is 16.5x, indicating that the median price of homes is much higher than the FMR. This suggests that actual rental rates could be around $32,000 annually, or about $2,667 per month, which is well above the FMR. For voucher holders, this means that they face significant constraints. The maximum rent they can pay through their vouchers is capped at the FMR, which is lower than the actual market rates. Therefore, voucher holders may struggle to find suitable housing within their budget, especially for larger units like three-bedroom ($2520) and four-bedroom ($2820) apartments. #### Affordability & Renter Profile ZIP code 80219 has a population of 59,523, with 41.1% being renters. The occupancy rate is quite high at 96.7%, suggesting a tight rental market where demand outstrips supply. Given the median household income of $68,415, the majority of residents would find it challenging to afford the actual market rents without assistance. The median income is only slightly above the FMR for a two-bedroom unit, making it difficult for low-income families to secure housing without financial aid. The high price-to-FMR ratio indicates that the market is not particularly affordable for typical renters. With actual rents likely exceeding the FMR, many residents might need to rely on subsidies or other forms of financial assistance to cover their housing costs. The tight market conditions mean that there is little room for negotiation on rent prices, further exacerbating affordability issues. #### Investor Angle From an investor perspective, the ZIP code 80219 presents a mixed picture. The FMR for a two-bedroom apartment is $1930, but the actual market rent is estimated to be around $2,667 per month. This implies that investors who can secure tenants through Section 8 vouchers will have limited cash flow compared to those who can charge market rates. However, the high occupancy rate and significant number of renters suggest strong demand for rental properties. Investors who can manage properties effectively and navigate the complexities of Section 8 programs may still find opportunities. The investment grade in this area would be considered moderate due to the tight market and the potential challenges in finding tenants willing to pay market rates. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, smaller units such as one-bedroom apartments ($1620) and studios ($1480) are more likely to attract Section 8 voucher holders. These units are closer to the FMR and thus more affordable for low-income families. 2. **Consider Renovation Projects**: If you are looking to purchase older properties at a discount, consider renovating them to meet the needs of voucher holders. By bringing these properties up to standard and ensuring they comply with HUD regulations, you can potentially increase your tenant pool and improve cash flow. 3. **Engage with Local Housing Authorities**: Building relationships with local housing authorities can provide valuable insights into the availability of vouchers and the process of becoming a Section 8 landlord. This can help streamline the process of securing tenants and managing the property. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 80219 is to **Hold**. While the market is tight and there is strong demand for rental properties, the high price-to-FMR ratio means that cash flow will be limited if you rely solely on voucher holders. However, the strong occupancy rate and high number of renters indicate that there is potential for steady returns if you can diversify your tenant base and include some market-rate tenants. In summary, while the market is challenging, it offers opportunities for investors who are prepared to work within the constraints of Section 8 and are willing to engage with both voucher holders and market-rate renters.

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.