Location: Denver-Aurora-Centennial, CO | Metro: Denver-Aurora-Centennial, CO MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,740 |
| 1 Bedroom | $1,820 |
| 2 Bedrooms | $2,150 |
| 3 Bedrooms | $2,820 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
The ZIP code 80293 presents an interesting scenario for renters and landlords alike. Given the median income is not available, it's challenging to assess the overall financial health of households in this area. However, we can still analyze the rent situation based on the available data.
The market rate for rentals in 80293 is also listed as N/A, which suggests there might be limited data or variability in rental prices. Despite this lack of clarity, the Fair Market Rent (FMR) set by HUD for the zip code in fiscal year 2024 is $2150. This figure represents the maximum amount that housing vouchers will cover for rent, assuming utilities are included.
With N/A% of the population being renters and a total population of N/A, it's evident that a significant portion of residents rely on renting to meet their housing needs. The absence of median income data makes it difficult to quantify how many households can afford the market rate, but the comparison between the market rate and the voucher payment standard is telling. If the market rate is indeed higher than $2150, then the affordability gap widens, potentially leading to increased competition among landlords who accept vouchers versus those who prefer cash-paying tenants.
The takeaway for landlords is straightforward: accepting vouchers could stabilize occupancy rates, especially if the market rate exceeds the voucher standard. However, this strategy requires understanding the administrative processes associated with voucher programs. For those preferring cash-paying tenants, ensuring rents align closely with the FMR of $2150 could attract a broader pool of potential renters, enhancing competitiveness in a market where affordability is a critical factor.
Data Sources: FMR data from HUD (2027).
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.