Location: Routt County, CO | Metro: Eagle County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,930 |
| 1 Bedroom | $2,070 |
| 2 Bedrooms | $2,480 |
| 3 Bedrooms | $2,950 |
| 4 Bedrooms | $3,970 |
| 5 Bedrooms | $4,605 |
| 6 Bedrooms | $5,158 |
| 7 Bedrooms | $5,571 |
| 8 Bedrooms | $5,850 |
U.S. Census Bureau data (2024)
A skeptical investor considering ZIP 80463 might question whether the Fair Market Rent (FMR) of $2,140 for the metro area in fiscal year 2026 can realistically cover the mortgage on an average home in this region. However, without specific data on median home values or typical mortgage payments in ZIP 80463, it's challenging to provide a definitive answer. The FMR does serve as a guideline for what is considered fair rent, but local conditions can vary widely.
The second objection likely revolves around the rental market's occupancy rate, which stands at 24.4%. This figure suggests that less than a quarter of housing units are rented out, potentially raising concerns over the availability of tenants. It's important to note that while this percentage seems low, it doesn't necessarily indicate a lack of demand. The rental vacancy rate, which measures the proportion of vacant units available for rent, would be more indicative of tenant demand. Unfortunately, the data does not provide the rental vacancy rate for ZIP 80463, so we cannot conclusively determine if there is sufficient demand based solely on the occupancy rate.
Lastly, an investor might wonder if Housing Choice Vouchers will keep up with the market rents in ZIP 80463. Given the absence of specific data on voucher amounts and trends in market rents for this ZIP code, it's difficult to ascertain the exact relationship between the two. Generally, voucher amounts are adjusted annually to reflect changes in the cost of living and housing prices. To truly evaluate this concern, one would need to compare recent adjustments in voucher amounts to the FMR and any available historical data on rental prices in the area.
In summary, while the FMR provides a benchmark for rent levels, the lack of detailed local data complicates a straightforward analysis of the mortgage coverage, tenant demand, and the adequacy of Housing Choice Vouchers in ZIP 80463. For a more precise assessment, additional research into local housing market specifics is advised.
Data Sources: FMR data from HUD (2027). 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.