Location: Lincoln County, CO | Metro: Denver-Aurora-Centennial, CO MSA
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 | $1,480 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,890 | $195,002 | 0.97% | C |
| 3BR | $2,470 | $295,229 | 0.84% | C |
U.S. Census Bureau data (2024)
28.3% of residents in ZIP 80828 (Limon, CO) are renters, indicating a significant portion of the population relies on rental housing. With a Fair Market Rent (FMR) set at $1680 for zip FY 2024, landlords can expect to receive this amount as reimbursement for participating in the Section 8 program. The Census ACS reports a market rent of $893, which is notably lower than the FMR, suggesting that landlords who accept Section 8 tenants could command higher rents compared to the average market rate. Given the median home value stands at $281,782, it's clear that Limon offers a relatively affordable market for both homeowners and investors looking to purchase rental properties.
$67,708 is the median income for the area, a figure that underscores the financial context of potential tenants. While this income level is modest, it aligns well with the rental market and the Section 8 income limits, ensuring a steady pool of eligible tenants. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, the disparity between the market rent and the FMR indicates a strong incentive for landlords to participate in the Section 8 program. This program provides a guaranteed and stable source of income, which is particularly beneficial given the economic conditions of the area.
The verdict for Section 8 participation in ZIP 80828 is positive. Landlords and small-portfolio investors should consider the program as a reliable means to fill vacancies and maintain consistent cash flow, especially with the FMR significantly above the market rent. This ensures profitability while providing affordable housing options to the community.
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.