Section 8 Fair Market Rent (FMR) for ZIP 80402 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 80402 in Colorado presents a unique challenge due to the lack of specific demographic data. However, based on the information provided about Section 8 and Fair Market Rent (FMR), we can still draw some conclusions.

Section 8 tenants rely on government housing vouchers to help cover their rent. The Fair Market Rent for ZIP 80402 is set at $2180 for fiscal year 2024. This figure serves as a benchmark for rental costs in the area.

Without precise population and income data, it's difficult to determine if 80402 is heavily populated by renters or homeowners. However, the presence of Section 8 vouchers indicates that there is a segment of the population that requires financial assistance for housing, suggesting a mix of both low-income renters and homeowners.

To understand the impact of typical market rents on local incomes, we would need specific figures. Nevertheless, the $2180 FMR suggests that landlords should be prepared to accept tenants who might have a portion of their rent subsidized. This means that landlords could attract tenants whose total income might otherwise make it challenging to afford the average rent in the area.

A landlord in ZIP 80402 should expect to encounter tenants who are likely to have their rent partially covered by Section 8 vouchers. These tenants will have a household income that qualifies them for such assistance, which typically means they are below a certain percentage of the Area Median Income (AMI). While the exact percentage isn't provided, it's important to note that landlords must comply with federal guidelines when accepting Section 8 tenants, including rent limits and unit standards.

In summary, although the detailed demographics are unavailable, the reliance on Section 8 vouchers points to a need for affordable housing options. Landlords should prepare to work within the parameters set by the government for voucher acceptance, ensuring their units meet the necessary criteria while keeping rents competitive with the $2180 FMR.

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.