Location: Greeley, CO | Metro: Greeley, 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 | $1,060 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,960 | $626,983 | 0.31% | F |
U.S. Census Bureau data (2024)
The potential risks for landlords investing in ZIP 80624 under the Section 8 program are significant and should be carefully considered. Tenant turnover is a critical issue, especially when comparing the local market rent, which is currently unavailable, to the Fair Market Rent (FMR) of $1360 set for FY 2024. This uncertainty can lead to difficulties in maintaining consistent occupancy and cash flow.
Vacancy exposure is another concern. The days on market (DOM) for properties in this area is also not available, indicating that there might be challenges in quickly renting out vacant units. This can result in prolonged periods without rental income, affecting the overall financial performance of the investment.
Deferred maintenance poses a substantial risk given the typical home value of $622,020 and a median income of $80,673. Landlords must be prepared to invest in property upkeep, as tenants may not have the financial means to report and address maintenance issues promptly. This can lead to higher repair costs and potential safety hazards if neglected.
Despite these risks, the high concentration of renters in ZIP 80624, comprising 11.4% of the population, suggests a robust demand for housing assistance through Section 8 vouchers. High renter density often translates into greater competition for subsidized housing, thereby increasing the likelihood of finding qualified tenants who are eager to secure their living space.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.