Location: Greeley, 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 | $1,790 |
| 1 Bedroom | $1,880 |
| 2 Bedrooms | $2,310 |
| 3 Bedrooms | $3,130 |
| 4 Bedrooms | $3,670 |
| 5 Bedrooms | $4,257 |
| 6 Bedrooms | $4,768 |
| 7 Bedrooms | $5,149 |
| 8 Bedrooms | $5,406 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,310 | $403,171 | 0.57% | F |
| 3BR | $3,130 | $472,214 | 0.66% | D |
| 4BR | $3,670 | $533,812 | 0.69% | D |
| 5BR | $4,257 | $730,114 | 0.58% | F |
U.S. Census Bureau data (2024)
The ZIP code 80603, located in Lochbuie, CO, is primarily a homeowner-dominated area rather than a renter-heavy zone. With a population of 16,811, only 8.9% of residents are renters, indicating a smaller pool of potential Section 8 tenants. The median household income stands at $118,297, which places most residents above the income threshold typically associated with Section 8 eligibility.
The market rent in this area is $2,714 per month, which represents approximately 23% of the median household income. This is relatively high compared to the Federal Market Rent (FMR) for FY 2024, which is set at $1,880 for the ZIP code. Landlords should note that the FMR is significantly lower than the market rent, suggesting that tenants utilizing Section 8 vouchers will find it challenging to afford properties at the prevailing market rates without additional subsidies or cost-sharing agreements.
Given the income levels and rental prices, landlords in ZIP 80603 can expect a tenant profile that includes individuals or families who may be seeking assistance due to financial hardships but are still likely to have incomes higher than the average Section 8 recipient. These tenants might include those who are transitioning between employment statuses, facing unexpected medical expenses, or managing other financial burdens that temporarily affect their ability to pay market rents.
To attract and retain Section 8 tenants effectively, landlords must balance the need for market rent with the realities of voucher limits. Offering competitive amenities and maintaining high standards of property management will be key to attracting these tenants, who are likely to be selective given the disparity between their voucher amounts and the local market rents.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.