Section 8 Fair Market Rent (FMR) for ZIP 80816 - 2027
Location: Denver-Aurora-Centennial, CO | Metro: Teller County, CO HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,480 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $2,750 |
| 5 Bedrooms | $3,190 |
| 6 Bedrooms | $3,573 |
| 7 Bedrooms | $3,859 |
| 8 Bedrooms | $4,052 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$75,472
To determine if you should buy in ZIP code 80816 (Florissant, CO) for Section 8 investments, follow these steps:
Step 1: Can the FMR of $1680 cover the debt service on a property valued at $455,861?
- No. The Fair Market Rent (FMR) of $1680 for ZIP 80816 in fiscal year 2024 is unlikely to fully cover the debt service on a property costing $455,861. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. With an average property value this high, the rental income from FMR would not be sufficient to meet all financial obligations.
Step 2: How does the market rent of $2,415 compare to the FMR?
- Market rent is above FMR. The Census American Community Survey reports that the average market rent in ZIP 80816 is $2,415, which is significantly higher than the FMR of $1680. This suggests that landlords can potentially charge more than the FMR for non-Section 8 tenants, but it also means that Section 8 vouchers may not cover the full market rent.
Step 3: Is there enough demand for Section 8 properties in ZIP 80816?
- It depends. According to the data, 6.9% of residents are renters, and the days on market (DOM) figure is not available. A lower percentage of renters might indicate less demand for rental properties overall, while the lack of DOM data makes it difficult to assess how quickly Section 8 properties are rented out. Without a clear DOM figure, it's challenging to evaluate the rental market's efficiency and the attractiveness of Section 8 properties specifically.
In conclusion, based on the provided data, the FMR of $1680 is insufficient to cover the debt service on a $455,861 property. While the market rent of $2,415 is higher than the FMR, the demand for Section 8 properties is uncertain due to the limited information on DOM. Landlords should consider these factors carefully before making an investment decision in ZIP 80816.
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.