Location: Washington County, CO | Metro: Morgan County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
U.S. Census Bureau data (2024)
18.0% of the residents in ZIP code 80733 are renters, indicating a significant but not overwhelming demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,150, which is notably lower than the market rent of $1,333 as reported by the Census ACS. This discrepancy suggests that landlords may need to consider subsidies or other financial assistance programs to maintain profitability.
$281,783 is the median home value in the region, reflecting a moderately priced housing market. Given the median income of $86,750, it's clear that many residents would struggle to afford homes at this price point, further emphasizing the importance of rental properties in the local economy.
The lack of data on days on market (DOM) and the percentage of price-cut shares indicates stability in the real estate market, suggesting that once a property is listed, it is likely to be rented without significant negotiation or prolonged vacancy periods. However, this also means that landlords should be cautious about pricing their rentals above the FMR, as the market rent is higher and tenants might prefer non-subsidized options if they can afford them.
Landlords and small-portfolio investors looking to participate in the Section 8 program in ZIP code 80733 should expect to receive the $1,150 FMR per unit, which is below the market rate but still provides a reasonable return on investment given the local economic conditions and the strong rental demand.
Section 8 verdict: Suitable for investors willing to accept slightly below-market rents in exchange for stable occupancy and reduced vacancy risk.
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.