Location: Colorado Springs, CO | Metro: Colorado Springs, CO HUD Metro FMR Area
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 | $1,350 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $1,940 |
| 3 Bedrooms | $2,690 |
| 4 Bedrooms | $3,080 |
| 5 Bedrooms | $3,573 |
| 6 Bedrooms | $4,002 |
| 7 Bedrooms | $4,322 |
| 8 Bedrooms | $4,538 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,940 | $401,076 | 0.48% | F |
| 3BR | $2,690 | $531,259 | 0.51% | F |
| 4BR | $3,080 | $619,643 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 80809, located in Cascade, CO, presents a dynamic rental market characterized by a Federal Market Rent (FMR) of $2070 for fiscal year 2024, slightly above the market rent reported at $2,030 according to the Census American Community Survey (ACS). This indicates that the rental market is robust, with the government's benchmark rent marginally exceeding the actual market rate, suggesting potential upward pressure on rents.
The low price-cut share of 0.3% signals that landlords are maintaining their asking prices without significant concessions, implying a relatively stable demand. While the days on market (DOM) data is not available, the median home value of $509,386 suggests a healthy real estate market with strong property values. This high median home value can be indicative of a desirable area with good amenities and a quality of life that attracts buyers willing to pay premium prices.
The renter share of 14.4% is notably low, which means that a majority of residents in Cascade own their homes. This has implications for long-term housing pressures, as it suggests that there is a limited pool of renters relative to homeowners. However, this also means that any increase in the number of renters could lead to a significant rise in rental demand, putting upward pressure on rents and potentially increasing the renter share over time.
In summary, ZIP 80809 appears to be a market where demand is steady and slightly outpaces supply, especially in the rental sector. The high median home value and low price-cut share suggest a strong and stable housing market, while the low renter share indicates a predominantly owner-occupied community with the potential for growing rental demand.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.