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 | $1,170 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,590 |
| 5 Bedrooms | $3,004 |
| 6 Bedrooms | $3,364 |
| 7 Bedrooms | $3,633 |
| 8 Bedrooms | $3,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,550 | $356,320 | 0.44% | F |
| 3BR | $2,150 | $451,298 | 0.48% | F |
| 4BR | $2,590 | $460,099 | 0.56% | F |
| 5BR | $3,004 | $626,674 | 0.48% | F |
U.S. Census Bureau data (2024)
The Section 8 program in ZIP code 80645, located in La Salle, Colorado, presents a significant opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1290, while the actual market rent based on Census ACS data is $1,607. This means that the gap between the FMR and the market rent is $317, representing a 20.4% discount off the market rate.
Given that the FMR is lower than the market rent, it's important to understand the implications for landlords who choose to accept housing vouchers. By accepting voucher tenants, landlords agree to rent their properties at rates subsidized by the government, which are significantly below what they could charge in the open market. In La Salle, where only 13.5% of residents are renters, the competition for rental units is relatively low, making the decision to participate in Section 8 more about the stability of guaranteed payments rather than maximizing rental income.
The median home value in La Salle is $455,794, indicating a moderate level of property investment in the area. However, the median household income is $87,609, suggesting that many local residents might find it challenging to afford market-rate rents, especially if they are looking to rent rather than buy. Therefore, Section 8 vouchers can serve as a lifeline for potential tenants, enabling them to secure housing despite income constraints.
For investors, the decision to accept Section 8 tenants should be made with an understanding of the financial trade-offs. While the rental income will be lower due to the FMR being set at $1290, the benefits include a steady stream of government-subsidized payments and a reduced risk of vacancy in a market where rental demand is not as high. Additionally, the lower FMR does not necessarily mean a loss; it aligns with the economic realities of the area, ensuring that the rental income remains stable and predictable.
In summary, the Section 8 program in ZIP 80645 offers a unique balance between risk management and income generation for landlords and small-portfolio investors. With a 20.4% discount off the market rent, participating in the program can be seen as a strategic move to ensure consistent occupancy and reliable cash flow, especially in a region where the median income is $87,609 and only 13.5% of residents are renters.
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.