Location: Colorado Springs, CO | Metro: Colorado Springs, CO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,620 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,570 |
| 5 Bedrooms | $2,981 |
| 6 Bedrooms | $3,339 |
| 7 Bedrooms | $3,606 |
| 8 Bedrooms | $3,786 |
ZIP code 80841, located in Colorado Springs, El Paso County, stands out due to limited data availability regarding its resident population, rental percentages, median income, and median home values. Despite these gaps, it's essential to understand the economic landscape for landlords and small-portfolio investors operating within this area.
The Fair Market Rent (FMR) for ZIP 80841 is set at $1730 for fiscal year 2024. This figure represents the maximum amount that Section 8 tenants can pay towards their rent. However, without specific market rent data for the ZIP code, it's challenging to compare the FMR against typical rental prices. The lack of market data suggests that landlords should closely monitor local trends to ensure they're pricing properties competitively while remaining within the bounds of the voucher program.
In terms of voucher economics, landlords in ZIP 80841 can expect to receive the difference between the FMR and the tenant's portion of the rent. For instance, if a tenant pays 30% of their income towards rent, and their income is $1000 per month, they would contribute $300, leaving the landlord to be compensated the remaining $1430 from the housing authority. This economic model is designed to make housing affordable for low-income families while providing landlords with stable rental income.
Given the incomplete data signature for ZIP 80841, the overall picture appears transitional rather than stable. Landlords and investors should stay informed about changes in the local economy, rental market dynamics, and any updates in the Section 8 program that could affect their investment decisions. Regular monitoring of property values and rental trends will be crucial in navigating the uncertainties presented by this ZIP code's data limitations.
Data Sources: FMR data from HUD (2027).
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.