Location: Washington County, CO | Metro: Washington County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 80801 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area for fiscal year 2026 is set at $1,080. However, current market rents in the area are notably higher, averaging around $1,200 per month for a one-bedroom apartment. This represents a gap of $120, or approximately 11.11%, between the FMR and the market rent.
This gap is critical for landlords and small-portfolio investors considering Section 8 tenants. When the FMR exceeds the market rent, it often signals a yield play opportunity. In this scenario, landlords can leverage the higher FMR payments to achieve better returns on their investments. However, in ZIP 80801, where the FMR is below the market rent, accepting Section 8 tenants means absorbing the difference between the voucher payment and the market rate. Given that 22.0% of the population are renters, and the median household income is $22,813, landlords must carefully weigh the benefits of steady government-backed rental income against the potential costs of renting below market rates.
The median home value in the area is not available, but nearby ZIP codes such as 80701 (Fort Morgan) have a median home value of $326,454, while 80723 (Brush) has a median home value of $297,299. These figures suggest that the real estate market in 80801 could be competitive, with some areas commanding higher prices. Landlords should consider these factors when deciding whether to accept Section 8 tenants, as they may impact overall investment strategy and profitability.
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.