Section 8 Fair Market Rent (FMR) for ZIP 80862 - 2027
Location: Cheyenne County, CO | Metro: Cheyenne County, CO
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $760 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$N/A
To determine if you should buy in ZIP code 80862 for Section 8 investment, follow this decision tree:
- Does the Fair Market Rent (FMR) of $990 cover the debt service on a property?
- If the answer is yes, proceed to the next question. The FMR of $990 must be sufficient to meet all monthly mortgage payments, taxes, insurance, and maintenance costs.
- If the answer is no, buying in this area is not advisable for Section 8 investment as the rental income will not cover your expenses.
- Is the market rent above, at, or below the FMR of $990?
- If market rent is above the FMR, then the area may still be profitable for traditional rentals, but less so for Section 8 properties.
- If market rent is at or below the FMR, Section 8 investment can be competitive. However, without specific market rent data, it's unclear how this compares to the FMR.
- Are there enough renters and days on the market (DOM) to ensure demand?
- The percentage of renters is 30.8%, which is a moderate indicator of demand.
- Without the specific number of days on the market (DOM), it's difficult to assess the liquidity of the rental market. A low DOM suggests strong demand, while a high DOM indicates weaker demand.
- If DOM is low and there are a significant number of renters, then demand is likely strong enough to support Section 8 investments.
- If DOM is high and the number of renters is not substantial, then demand is insufficient for a stable Section 8 investment.
Note: The lack of specific market rent and DOM figures makes certain parts of the analysis inconclusive. For a definitive decision, these data points are critical.
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.