Location: Kiowa County, CO | Metro: Cheyenne County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
U.S. Census Bureau data (2024)
The potential pitfalls of investing in ZIP 81036 under the Section 8 program are significant. Tenant turnover is likely to be high due to the disparity between the market rent of $800 and the Fair Market Rent (FMR) of $1,110 for the fiscal year 2026, which could lead to frequent changes in occupancy and increased management costs. Vacancy exposure is another concern, as there is no available data on days on market (DOM), indicating a possible lack of transparency or historical trends that might help predict rental periods. Additionally, the deferred maintenance risk is considerable given the typical home value of $168,857 and the median income of $59,868. This suggests that homeowners may struggle to keep up with necessary repairs and improvements, potentially leading to subpar living conditions that could attract scrutiny from housing authorities.
However, these risks must be weighed against the high renter share of 26.5%. A significant portion of the population renting their homes typically translates into higher demand for housing vouchers, which can provide a steady stream of tenants who are committed to paying their rent through the voucher program. This demand can act as a stabilizing force in the rental market, ensuring a consistent pool of potential residents even when market conditions fluctuate.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.