Location: Routt County, CO | Metro: Routt County, CO
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 | $2,110 |
| 1 Bedroom | $2,210 |
| 2 Bedrooms | $2,490 |
| 3 Bedrooms | $2,970 |
| 4 Bedrooms | $3,870 |
| 5 Bedrooms | $4,489 |
| 6 Bedrooms | $5,028 |
| 7 Bedrooms | $5,430 |
| 8 Bedrooms | $5,702 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,210 | $531,372 | 0.42% | F |
| 2BR | $2,490 | $864,832 | 0.29% | F |
| 3BR | $2,970 | $1,414,334 | 0.21% | F |
| 4BR | $3,870 | $2,219,065 | 0.17% | F |
| 5BR | $4,489 | $3,474,742 | 0.13% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 80487, Steamboat Springs, CO, presents a unique setup for both landlords and small-portfolio investors. The median home value stands at a robust $1,302,914, indicating a high-end market that is likely to attract affluent buyers. Despite this premium valuation, only 0.2% of listings have seen reductions, which suggests strong seller pricing power and a resilient housing market.
A key metric for assessing market conditions is the median days on market (DOM), currently at 53 days. This figure points towards a relatively quick turnover rate, suggesting that homes are selling promptly once listed. Combined with the low percentage of price reductions, it signals a market where sellers can maintain their asking prices, thereby retaining significant pricing power over the next 12-24 months.
On the rental side, the Fair Market Rent (FMR) for ZIP 80487 is projected to be $2,130 for fiscal year 2026, whereas the market rent, measured by ZORI (Zillow Observed Rent Index), is currently $3,057. This substantial gap between FMR and actual market rents indicates a robust rental market, driven by demand that exceeds government-set standards. Landlords and investors can leverage this dynamic to sustain higher rental rates, even in the face of broader economic uncertainties.
For long-hold investors, the setup implies a steady appreciation thesis. The high median home value coupled with a resilient market and low DOM suggest that property values are likely to remain stable, if not increase slightly over time. However, the realistic appreciation rate will be modest, given the already elevated home values. Investors should focus on maintaining rental income levels and consider the potential for capital appreciation through improvements and renovations rather than expecting significant growth purely from market conditions.
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.