Location: Greeley, CO | Metro: Greeley, CO MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,420 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,560 |
| 4 Bedrooms | $3,060 |
| 5 Bedrooms | $3,550 |
| 6 Bedrooms | $3,976 |
| 7 Bedrooms | $4,294 |
| 8 Bedrooms | $4,509 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 80546 in fiscal year 2024 is set at $1770. This figure represents the payment standard used by the Housing Choice Voucher Program, commonly known as Section 8. It is important to note that this is not the amount that tenants will pay in rent; rather, it is the maximum amount that the program will reimburse landlords for renting out a unit.
In comparison to the local market, there is no specific data provided on average rents for ZIP 80546. However, the fact that 34.4% of the population are renters suggests a significant demand for housing. This percentage indicates that over a third of the residents in the area rely on rental properties, which can translate into a steady stream of potential tenants for your Section 8 rental property.
Regarding the acquisition cost of a property in this ZIP code, again, there is no specific data provided. But it is crucial to understand that the FMR does not necessarily reflect the purchase price of a home or the total cost of maintaining a rental property. Landlords should consider all expenses, including maintenance, utilities, and property taxes, when deciding whether to participate in the Section 8 program.
To ensure that you are making an informed decision about accepting a Section 8 tenant, verify that the condition and quality of your rental property meet the Housing Quality Standards (HQS) required by the program. These standards cover safety and habitability issues and must be met before a tenant can move in.
In summary, with an FMR of $1770, landlords in ZIP 80546 can expect a consistent reimbursement rate from the government for their Section 8 units. The high percentage of renters in the area signals strong demand for affordable housing. Before proceeding, make sure your property complies with HQS to avoid any complications.
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.