Location: Teller County, CO | Metro: Teller County, 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 | $930 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,230 | $163,191 | 0.75% | D |
| 2BR | $1,350 | $213,399 | 0.63% | D |
| 3BR | $1,870 | $308,325 | 0.61% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP 80860, located in Cripple Creek, CO, does not favor landlords based on the HUD Fair Market Rent (FMR) and market rent data. The HUD FMR for the area is set at $1210 per month for fiscal year 2024, while the Census ACS reports a market rent of only $680 per month. This significant gap suggests that landlords would need to charge well below the HUD FMR to remain competitive in the local rental market.
Acquisition in this area is relatively affordable given the median home value of $218,066. However, the lack of data regarding days on market (DOM) and the percentage of homes needing price cuts to sell indicates that the market might be stable but lacks recent transactional dynamics for a thorough analysis. Landlords should consider these limitations when evaluating potential investment opportunities.
Tenant demand in ZIP 80860 is moderate. With a total population of 654 and 36.8% of residents being renters, there is a consistent base of potential tenants. However, the small number of renters means that competition for tenants could be intense, and landlords must ensure their properties meet the needs of this niche market.
In conclusion, while the acquisition cost appears reasonable at $218,066, the disparity between the HUD FMR and the actual market rent poses a challenge for landlords seeking to maximize returns. The modest tenant demand further complicates the investment case. Therefore, landlords and small-portfolio investors should proceed with caution, focusing on property management efficiencies and understanding the local rental market's unique characteristics to succeed in ZIP 80860.
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.