Location: Chaffee County, CO | Metro: Denver-Aurora-Centennial, 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 | $1,510 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $2,900 |
| 5 Bedrooms | $3,364 |
| 6 Bedrooms | $3,768 |
| 7 Bedrooms | $4,069 |
| 8 Bedrooms | $4,272 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,580 | $306,325 | 0.52% | F |
| 2BR | $1,930 | $420,983 | 0.46% | F |
| 3BR | $2,550 | $536,562 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 80449, located in Hartsel, CO, presents an interesting scenario for both renters and landlords. The median income here stands at $59,635, which is a key figure when considering housing affordability.
Unfortunately, the market rate rental price for ZIP 80449 is currently unavailable, making it difficult to provide a direct comparison between the median income and typical rent costs. However, we do have information on the Section 8 voucher payment standard, which is set at $1750 for Fair Market Rent (FMR) in zip code 80449 for fiscal year 2024.
Given the population of 916 and the fact that only 0.0% of residents are renters, it becomes evident that the rental market in Hartsel is extremely limited. This low percentage of renters suggests that homeownership is prevalent, likely due to the town's rural nature and possibly higher property values.
The affordability gap, when considering the FMR voucher payment standard of $1750, is significant. A household earning the median income of $59,635 would find it challenging to meet the typical market rate for rentals if it were higher than the voucher amount. This implies that for those who do rent, the availability of Section 8 vouchers could be crucial in finding affordable housing.
For landlords in Hartsel, the limited rental market means competition for tenants is fierce. Accepting Section 8 vouchers could be a strategic move to secure a steady stream of rental income, given the voucher's fixed payment and the potential difficulty for renters to find housing otherwise. However, landlords should also consider the administrative aspects of accepting vouchers, including compliance with HUD regulations and potential delays in payments.
The takeaway for landlords is clear: while accepting Section 8 vouchers can stabilize occupancy rates, it is important to weigh the benefits against the administrative burdens. In a market where the rental demand is low, diversifying tenant acquisition strategies to include both voucher and cash-paying tenants may be necessary to maintain a successful rental business.
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.