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 |
The real estate landscape in ZIP 80936 (Unknown, CO) presents a nuanced picture for both landlords and small-portfolio investors. The median home value is currently unavailable, which suggests that there may be limited recent sales data, making it difficult to assess the overall market health through traditional price metrics.
Additionally, the percentage of listings that have been reduced and the median days on market (DOM) are also not available. These missing figures imply a possible slowdown in the market activity or a lack of recent transactions that would typically provide insights into buyer demand and seller urgency. Without these key indicators, it's challenging to gauge the immediate pricing power of properties in the area.
Turning to the rental side, the Fair Market Rent (FMR) for ZIP 80936 in fiscal year 2024 is set at $1730. This figure is a critical benchmark for landlords, as it reflects the average rent that can be charged for a two-bedroom apartment without exceeding 30 percent of the area median gross income. However, the current market rent remains unspecified, leaving room for speculation regarding the alignment between market rents and the FMR.
For long-term investors, the setup in ZIP 80936 implies a cautious approach. The absence of clear appreciation trends based on the provided data points towards a stable market rather than one with significant growth potential. Realistic expectations should focus on maintaining property values and ensuring that rental income aligns with maintenance costs and other expenses.
In summary, while the rental market offers a defined benchmark with the FMR, the lack of detailed sales data and pricing trends suggests a need for careful monitoring of local economic conditions and housing demand. Landlords and investors should consider diversifying their strategies to include both rental and potential sale opportunities, depending on future market developments.
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.