Section 8 Fair Market Rent (FMR) for ZIP 80230 - 2027

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

Investment Score for ZIP 80230

Monthly Rent (2BR)

$2,480

Median Price (2BR)

$495,943

1% Rule

0.5%

Annual Yield

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	$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

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
2BR	$2,480	$495,943	0.5%	F
3BR	$3,250	$781,625	0.42%	F
4BR	$3,640	$1,009,732	0.36%	F
5BR	$4,222	$1,186,975	0.36%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

10,449

Median Household Income

$99,750

Housing Units

5,754

Renter Percentage

52.0%

Occupancy Rate

94.8%

Renter Occupied

2,834

The ZIP code 80230 is located in Denver, Colorado, and is part of a vibrant urban neighborhood known for its mix of residential and commercial properties. The area offers convenient access to downtown Denver and various amenities, making it attractive for both renters and buyers.

Fair Market Rent (FMR): For fiscal year 2024, the FMR for a two-bedroom apartment in ZIP 80230 is set at $2,540, indicating a strong rental market that landlords can leverage to set competitive rates.
Zillow Observed Rental Index (ZORI): The market rent for the area, according to ZORI, stands at $2,123, suggesting that while there's room for slight price adjustments, the current market closely aligns with fair market values.
Median Home Value: At $781,798, the median home value in ZIP 80230 reflects a relatively high-cost housing market, which can be advantageous for investors looking to enter the real estate market with higher-end properties.
Renter Share: With 52.0% of the population renting, the area has a significant demand for rental properties, providing landlords with a robust tenant pool.
Median Income: The median income in the area is $99,750, implying that residents have the financial stability to afford higher rents or property values, thus supporting a premium real estate market.

In summary, ZIP 80230 presents a favorable environment for real estate investment, characterized by a strong rental market, high median incomes, and a substantial renter population. Landlords and small-portfolio investors can expect to find opportunities in setting competitive rental prices and targeting tenants who can afford the area's higher costs. The median home value also suggests potential for high returns on investment, especially for those interested in luxury properties.

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.