Location: Boulder, CO | Metro: Boulder, CO MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,520 |
| 1 Bedroom | $1,730 |
| 2 Bedrooms | $2,030 |
| 3 Bedrooms | $2,700 |
| 4 Bedrooms | $3,140 |
| 5 Bedrooms | $3,642 |
| 6 Bedrooms | $4,079 |
| 7 Bedrooms | $4,405 |
| 8 Bedrooms | $4,625 |
The Fair Market Rent (FMR) for ZIP code 80306 in fiscal year 2024 is set at $2220. This figure represents the payment standard for Section 8 housing assistance in your area, meaning that if you participate in the program, the government will pay up to $2220 per month towards a tenant's rent. However, it's important to note that this is not the amount your tenant would pay; they typically contribute a portion of their income towards rent.
Compared to the local average rent, which is currently listed as N/A, the FMR provides a benchmark for what the government considers a reasonable rent for subsidized housing. While the local average isn't available, understanding the FMR can help you price your property competitively within the Section 8 framework.
The percentage of renters in ZIP 80306 is N/A%, indicating the level of demand for rental properties in the area. A higher percentage suggests more potential tenants interested in renting, which could be beneficial if you're looking to fill your property quickly. However, without a specific number, it's hard to gauge the exact demand relative to other areas.
In terms of acquiring a property in this ZIP code, the median home value is listed as N/A. This figure gives you an idea of the typical cost for purchasing a home in the area. Keep in mind that the actual price of your property might differ based on its condition, location, and size.
Before proceeding with a Section 8 rental, ensure your property meets all the required inspection criteria. The Housing Quality Standards (HQS) inspection is crucial, as failing it can delay or prevent you from participating in the program. It's a clear thing to verify to avoid any complications later.
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.