Location: Boulder, CO | Metro: Boulder, CO MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,600 |
| 1 Bedroom | $1,830 |
| 2 Bedrooms | $2,140 |
| 3 Bedrooms | $2,850 |
| 4 Bedrooms | $3,310 |
| 5 Bedrooms | $3,840 |
| 6 Bedrooms | $4,301 |
| 7 Bedrooms | $4,645 |
| 8 Bedrooms | $4,877 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,830 | $380,655 | 0.48% | F |
| 2BR | $2,140 | $784,056 | 0.27% | F |
| 3BR | $2,850 | $1,185,065 | 0.24% | F |
| 4BR | $3,310 | $1,667,957 | 0.2% | F |
| 5BR | $3,840 | $2,136,791 | 0.18% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 80302, located in Boulder, Colorado, reveals a challenging yet potentially rewarding rental environment. The HUD Fair Market Rent (FMR) for this area in fiscal year 2024 is set at $2,300. In comparison, the market rent, as measured by Zillow's ZORI index, stands at $2,763. This indicates that voucher tenants will generally cashflow marginally, with a shortfall of approximately $463 per unit. To achieve positive cashflow, landlords must focus on premium units or areas where market rents are lower.
The median home value in ZIP 80302 is $1,119,417, which translates to a rent-to-price ratio of about 0.25%. This ratio suggests that the rental market is relatively robust compared to the overall housing market, making it attractive for investors seeking stable income. However, the high median home value also implies that property costs are substantial, which could affect the initial investment required and ongoing expenses such as property taxes and maintenance.
The rental market dynamics are further highlighted by the median Days on Market (DOM) of 78 days and a price-cut share of 0.2%. These figures indicate a competitive but efficient rental market, where properties typically move quickly once listed. The low price-cut share suggests that landlords do not often need to reduce asking prices to attract tenants, which can be beneficial for maintaining rental rates closer to the market average.
In summary, while voucher tenants will likely cashflow marginally at the HUD FMR, the strong rent-to-price ratio and efficient rental market make ZIP 80302 an attractive investment for those prioritizing stability and consistent income over rapid appreciation.
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.