Section 8 Fair Market Rent (FMR) for ZIP 80646 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 80646 in fiscal year 2024 is set at $1530. This figure represents the payment standard for Section 8 vouchers, which is the amount the government will pay toward your rental property on behalf of eligible tenants. It does not mean you can only charge $1530 for rent; rather, it's the maximum amount that will be covered by the voucher.

In ZIP 80646, the median rent is currently listed as N/A, which makes direct comparison challenging. However, the FMR serves as a benchmark for what the government considers a reasonable rent in the area. If your rental property's market rate is higher than $1530, the tenant must make up the difference out-of-pocket. For example, if your rent is $1600, the tenant would need to contribute an additional $70 per month.

The demand for rental properties in this ZIP code is reflected by the N/A% of renters who rely on assistance programs. This indicates a significant portion of the population that might benefit from and seek out Section 8 housing. While the exact percentage is not available, understanding the local rental dynamics can help you gauge potential interest in your property.

When acquiring a property for Section 8 rentals, consider the N/A average property value in the area. This can give you an idea of how much you might spend on purchasing a suitable property. Remember, the goal should be to ensure that your investment generates positive cash flow even after accounting for any subsidies and the costs associated with maintaining a rental property.

Before proceeding with your first Section 8 rental, it's crucial to verify that your property meets the Housing Quality Standards (HQS). These standards ensure the safety and habitability of the property. While the specifics can vary, generally, you'll need to confirm that your property is in good condition, free from health hazards, and complies with local building codes.

In summary, the FMR of $1530 sets the baseline for government payments but doesn't limit your overall rent. The lack of specific median rent data means you'll need to research local market rates independently. The high reliance on assistance programs suggests strong demand for affordable housing. Ensure your investment aligns with your financial goals and that your property meets HQS to avoid delays in securing a tenant.

Data Sources: FMR data from HUD (2027).

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.