Location: Otero County, CO | Metro: Pueblo, CO MSA
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 | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $131,724 | 0.77% | D |
| 3BR | $1,300 | $212,990 | 0.61% | D |
| 4BR | $1,670 | $263,151 | 0.63% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 81039, Fowler, Colorado, for fiscal year 2024 is set at $1020. This figure represents the maximum amount the U.S. Department of Housing and Urban Development (HUD) will pay towards a tenant's rent under the Section 8 housing voucher program. It is important to note that this is not the rent you would charge your tenants directly; rather, it is the reimbursement limit for the government.
To put this into perspective, the average rent in Fowler, according to the Census Bureau's American Community Survey (ACS), is $816. This indicates that the FMR is higher than the local average, which can be beneficial for landlords participating in the Section 8 program as they might receive slightly more than the typical market rate.
About 34.0% of households in Fowler are renters. This suggests a moderate demand for rental properties, especially those that cater to low-income families who may rely on Section 8 vouchers. If you are considering acquiring a property in this area, you should know that the median home value is around $187,959. This gives you an idea of the potential investment required to enter the local real estate market.
Before proceeding with your first Section 8 rental in Fowler, ensure that your property meets all HUD's Housing Quality Standards (HQS). These standards are designed to ensure that the homes where Section 8 recipients live are safe and decent. Failing to meet these standards can result in penalties and loss of income. The HQS inspection is a critical step that must be verified to avoid any issues down the line.
In summary, the FMR of $1020 in ZIP 81039 provides a financial benchmark for landlords participating in the Section 8 program. With a local average rent of $816 and a renter share of 34.0%, there is a reasonable demand for affordable housing. However, the median home value of $187,959 means that entering this market requires a significant investment. To make a successful entry, confirm that your property complies with HUD's HQS to avoid future complications.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.