Location: Greeley, CO | Metro: Greeley, CO MSA
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 80729 is situated in a suburban neighborhood characterized by a modest population of 350 residents. The area has a rental market presence with 32.0% of the population being renters. The median household income stands at $48,750, indicating a middle-income demographic. Despite the lack of data on median home values, the economic profile suggests a community where housing affordability is a key consideration.
Moving into the specifics of the rental market, the Fair Market Rent (FMR) for ZIP 80729 as of the fiscal year 2024 is set at $1250. This figure represents the benchmark for rental assistance under the Section 8 program. In comparison, the actual market rent, according to the Census Bureau's American Community Survey, is slightly lower at $1,156. This indicates that landlords participating in the Section 8 program can expect to receive a rent subsidy that covers the difference between the FMR and the market rate, effectively ensuring stable and predictable cash flow.
Given these factors, ZIP 80729 aligns well with the strategy of a hands-off voucher operator. Landlords can benefit from the Section 8 program without the need for extensive property improvements or active management, as the subsidy rates are favorable relative to the market conditions. However, for a hands-on value-add buyer looking to invest in property renovations and capitalize on higher rents, the opportunity may be limited due to the relatively low market rent and the absence of data on median home values, which could suggest a less dynamic housing market.
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.