Section 8 Fair Market Rent (FMR) for ZIP 80622 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 80622, located in Colorado Springs, Colorado, is a desirable residential area known for its proximity to military installations and the city's amenities. This location offers a mix of suburban living with easy access to urban conveniences, making it attractive to both long-term residents and short-term renters.

• Fair Market Rent (FMR) for ZIP 80622 in fiscal year 2024 is set at $1530. This figure represents the maximum amount that tenants participating in the Section 8 program can pay for housing, ensuring landlords receive a predictable rental income.
• The market rent data for ZIP 80622 is currently unavailable. However, given the local demand driven by military personnel and their families, as well as the presence of nearby universities, the actual market rents likely exceed the FMR, providing opportunities for higher returns on investment.
• The median home value in ZIP 80622 is not available. Despite this lack of data, the area's strong economic base and stable tenant pool suggest a robust housing market.
• Renters make up 21.2% of the housing market in ZIP 80622. This indicates a significant portion of the population is seeking rental properties, creating a steady demand for landlords and small-portfolio investors.
• The median income in ZIP 80622 is $138,710. This relatively high income level supports a strong rental market and suggests that tenants are likely to have the financial stability to meet their rental obligations.

Synthesizing these points, investing in rental properties in ZIP 80622 presents a solid opportunity due to the predictable rental income from the Section 8 program and the potential for market rents above the FMR. The area's reliance on military and academic populations ensures a consistent demand for rentals, while the high median income provides assurance of tenant reliability. Although specific market rent and median home value data are lacking, the overall economic health and demographic makeup of the area support a favorable outlook for landlords and small-portfolio investors.

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.