Location: Colorado Springs, CO | Metro: Colorado Springs, CO HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,900 |
| 3 Bedrooms | $2,680 |
| 4 Bedrooms | $3,150 |
| 5 Bedrooms | $3,654 |
| 6 Bedrooms | $4,092 |
| 7 Bedrooms | $4,419 |
| 8 Bedrooms | $4,640 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 80914 in Colorado Springs, CO, reveals critical insights for landlords and small-portfolio investors.
The rent math does not align favorably with the Federal Market Rent (FMR) set at $2600 for the fiscal year 2024. Without specific market rent data, it's challenging to determine if this FMR accurately reflects the local rental environment. However, if market rents are below $2600, landlords might find themselves overpricing their units, which could lead to vacancies. Conversely, if market rents exceed $2600, the FMR might not cover the landlord's costs fully, especially considering the potential need to offer subsidies or discounts to attract tenants.
Regarding property acquisition, the lack of detailed data on median home values, days on market (DOM), and the percentage of homes needing price cuts hinders a comprehensive assessment. Typically, lower median home values and fewer days on the market indicate a more affordable and quicker-selling market, which is favorable for acquisition. However, without these figures, it's impossible to make a definitive statement about the affordability of acquiring properties in this area.
Tenant demand is robust in ZIP 80914. With a population of 504 and a 100.0% renter share, every household in this area is a potential tenant. This high demand suggests that landlords can expect steady occupancy rates once they secure tenants, as long as the rent is competitively priced and meets the needs of the local renters.
Verdict: While the tenant demand in ZIP 80914 is strong, the rent math and acquisition affordability remain unclear due to missing data. Landlords must conduct thorough market research to ensure their rental prices are competitive and that the cost of acquiring properties fits within their investment strategy. The full occupancy potential is a significant positive factor, but it must be balanced against accurate pricing and acquisition costs.
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.