Location: Colorado Springs, CO | Metro: Colorado Springs, 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 | $1,480 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,120 |
| 3 Bedrooms | $2,940 |
| 4 Bedrooms | $3,370 |
| 5 Bedrooms | $3,909 |
| 6 Bedrooms | $4,378 |
| 7 Bedrooms | $4,728 |
| 8 Bedrooms | $4,964 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,120 | $306,465 | 0.69% | D |
| 3BR | $2,940 | $403,341 | 0.73% | D |
| 4BR | $3,370 | $446,272 | 0.76% | D |
U.S. Census Bureau data (2024)
The ZIP code 80951 in Colorado Springs, CO, stands out due to its unique demographic and economic characteristics. With a population of 5,219 residents, it has a relatively low percentage of renters at 23.9%, indicating that homeownership is prevalent. The median income in this area is $108,010, which is above the national average, reflecting a financially stable community. The median home value is significantly high at $429,647, suggesting a strong real estate market.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 80951 in fiscal year 2024 is set at $2,430. This is notably higher than the Census-reported market rent of $2,317, based on American Community Survey (ACS) data. This discrepancy means that landlords accepting Section 8 vouchers can expect slightly higher rental income compared to the typical market rate, making it an attractive option for those willing to participate in the program.
The data signature for ZIP 80951 reads as stable. The combination of a high median income and a robust median home value indicates a consistent economic environment. While the percentage of renters is lower than some other areas, the higher FMR relative to market rates provides a positive outlook for those interested in Section 8 tenancy. This stability is further reinforced by the fact that the FMR is increasing, which signals confidence in the local housing market's ability to sustain these levels.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.