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 ZIP code 80962 is located in Colorado Springs, CO, and represents a suburban neighborhood. Specific demographic details such as the exact population, percentage of renters, median income, and median home value are currently unavailable. However, we can build a portrait of the area using available data.
The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 80962 for fiscal year 2024 is set at $1730. This figure is crucial for landlords and small-portfolio investors interested in the Section 8 program, as it indicates the maximum rent that can be charged for subsidized housing units. While the market rent for the area is not specified, the FMR serves as a benchmark for assessing the economic viability of properties under the voucher program.
Given the suburban nature of the neighborhood and the FMR figure, ZIP 80962 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the consistent demand for affordable housing and the structured payments through the Section 8 program provide a stable income stream. On the other hand, for those looking to actively manage their investments, there is potential to enhance property values through improvements, given the likely room for differentiation from the baseline FMR.
RentData.org provides a tool to lookup FMR by ZIP code, which can be useful for further analysis of the local rental market. Additionally, HelloSection8.com offers detailed information on FMRs for various unit sizes in the area.
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.