Section 8 Fair Market Rent (FMR) for ZIP 80929 - 2027

Location: Colorado Springs, CO | Metro: Colorado Springs, CO HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,470
1 Bedroom	$1,800
2 Bedrooms	$2,110
3 Bedrooms	$2,930
4 Bedrooms	$3,360
5 Bedrooms	$3,898
6 Bedrooms	$4,366
7 Bedrooms	$4,715
8 Bedrooms	$4,951

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

155

Median Household Income

$135,257

Housing Units

Renter Percentage

55.7%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 80929, located in Colorado Springs, Colorado, is a residential area that offers a mix of suburban and urban living amenities. With a strong military presence and proximity to major employers, the area attracts both long-term residents and transient populations, making it an interesting market for real estate investment.

Fair Market Rent (FMR) for ZIP 80929 in fiscal year 2024 is set at $2290: This figure represents the maximum amount landlords can charge for a two-bedroom apartment under the Section 8 program, indicating a robust rental market where demand often exceeds supply.
Renter Share is 55.7%: Over half of the households in this ZIP code are renters, suggesting a high dependency on rental properties and a consistent demand for affordable housing options.
Median Income stands at $135,257: The relatively high median income points towards a population that can afford higher rents, potentially allowing landlords to command premium rates for quality properties.
Median Home Value is currently unavailable: This suggests that the area might be dominated by rental properties rather than owner-occupied homes, which could be beneficial for investors focused on the rental market.
Days on Market (DOM) data is not available: This lack of information makes it challenging to assess how quickly rental units are typically filled in the area, but given the high renter share and median income, it's reasonable to expect a quick turnaround for well-managed properties.

Investors looking to enter the 80929 ZIP code market should focus on properties that can meet or exceed the Fair Market Rent standards while also catering to the diverse needs of the area's residents. Given the high renter share and median income, there is a solid foundation for maintaining occupancy rates and potentially increasing rents over time. However, the absence of Days on Market data and median home values means that further local research is necessary to fully understand the dynamics of the real estate market in this area. Overall, the ZIP code presents a promising opportunity for those willing to invest in quality rental properties.

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.