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 Fair Market Rent (FMR) for ZIP code 80970 in Colorado stands at $1730 for the fiscal year 2024, indicating a stable rental environment for landlords and small-portfolio investors. However, the absence of current market rent data suggests that there might be limited recent activity or reporting in this area, which could imply either a quiet market or an underreported one.
The lack of percentage share for price cuts and days on market (DOM) points to a potentially balanced market where neither landlords nor tenants are compelled to make significant concessions. This stability can be advantageous for maintaining steady rental incomes without frequent adjustments. The unknown median home value also means that there isn't enough data to assess the typical property values in the area, but it doesn't necessarily indicate a weak market.
A key piece of missing information is the percentage of renters in the ZIP code. Without this figure, it's challenging to gauge the long-term housing pressure in 80970. Typically, a higher renter share signals sustained demand for rental properties, which can provide landlords with greater confidence in the market's resilience against economic fluctuations. Conversely, a lower share might suggest a market with more homeowners, which could mean less immediate pressure on rental prices but also fewer opportunities for rental growth.
In summary, ZIP 80970 appears to be a market in motion, characterized by known stability in rental pricing and unknowns regarding recent market activity and home values. The dynamics suggest a potential equilibrium between supply and demand, though more detailed data would be needed to confirm this. For now, landlords can expect consistent returns based on the current FMR, but they should remain vigilant for changes in market conditions that could affect their investments.
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.