Location: Washington County, CO | Metro: Kit Carson County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
U.S. Census Bureau data (2024)
The median income in ZIP code 80834 stands at $52,750, which presents a challenging landscape for renters trying to afford the market rate of $1,050 per month. This figure represents a significant portion of their annual earnings, making it difficult for many households to secure housing without financial assistance.
Comparatively, the Fair Market Rent (FMR) set at $1,120 for the fiscal year 2026 is even higher, further stretching the budget of average households. The disparity between the median income and both the market rate and FMR highlights a substantial affordability gap, indicating that many potential renters would struggle to pay the full market price.
With 23.7% of the population being renters and a total population of 287, the competition among landlords for tenants willing and able to pay the market rate is relatively low. This means that landlords might find themselves with fewer options when seeking cash-paying tenants who can meet the full rental amount.
The takeaway for landlords considering whether to accept Section 8 vouchers or focus on cash-paying tenants is clear: given the high cost of living relative to the median income, there is a strong likelihood that many potential tenants will require some form of assistance to cover their rent. Accepting vouchers could be a strategic move to ensure a steady stream of reliable tenants, despite the slightly lower rate compared to the market ($1,050 vs. $1,120 FMR).
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.