Location: Morgan County, CO | Metro: Morgan County, CO
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 | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,450 | $433,944 | 0.33% | F |
U.S. Census Bureau data (2024)
The ZIP code 80653 presents an interesting balance between yield and stability for real estate investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is projected at $1,060, while the market rent stands at $1,005. This suggests that rental properties in this area can generate slightly above-average returns compared to the broader metro region. However, the median home value is significantly higher at $353,790, indicating a potentially higher investment cost.
In terms of stability, the ZIP code has a 21.6% rental rate, which is relatively low. This percentage implies that the majority of residents own their homes, which could contribute to a stable neighborhood environment. Unfortunately, the data does not provide the number of days on the market (DOM), which would be crucial for assessing the liquidity of the property market. The average household income is $51,542, which is moderate and suggests that tenants may have stable employment but limited disposable income for higher rents.
Given these figures, 80653 is best classified as a steady-cashflow zone. While the yields are promising, the relatively low rental rate and moderate household income suggest a market that favors long-term investments over quick flips. The slight premium on FMR over market rent supports this classification, as it indicates a market where rental demand is present but not overwhelming, leading to steady rather than explosive growth.
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.