Section 8 Fair Market Rent (FMR) for ZIP 81046 - 2027
Location: Las Animas County, CO | Metro: Las Animas County, CO
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $980 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$N/A
To determine if a landlord should buy in ZIP code 81046 for Section 8 investment, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $1,180 cover the debt service on a property?
- Yes: Proceed to the next question.
- No: Do not invest in this area for Section 8 properties, as the rental income will not be sufficient to cover the mortgage payments and other expenses.
- 2) Is the market rent above, at, or below the FMR of $1,180?
- Above: The area is attractive for non-Section 8 tenants, which could lead to higher competition for Section 8 vouchers. It depends on whether you can find properties that offer a reasonable return despite the potential competition.
- At: This suggests a balanced market where Section 8 rents match the market rates. It is a favorable condition for investing in Section 8 properties.
- Below: This indicates that the market rent is lower than the FMR, making Section 8 a potentially lucrative option. However, ensure that the difference between market rent and FMR covers the additional costs associated with renting to Section 8 tenants.
- 3) Are 0.0% of renters and N/A-day days on the market (DOM) indicative of enough demand?
- 0.0% renters: This percentage is likely incorrect or missing. Without accurate data on the percentage of renters, it's difficult to assess the demand for rental properties. Additionally, the missing days on the market (DOM) figure means we cannot evaluate how quickly properties are being rented out. These data points are crucial for understanding the local rental market dynamics.
The decision to invest in ZIP code 81046 for Section 8 properties hinges on the answers to these questions. With the FMR set at $1,180, the primary concern is whether this amount can cover the debt service on a property. If it does, then the relative position of the market rent compared to the FMR becomes the next critical factor. Finally, without complete data on the percentage of renters and the days on the market, it's impossible to make a definitive recommendation on the demand for rental properties in this area.
It is recommended to gather more accurate and comprehensive data before making an investment decision. Specifically, obtain the correct percentage of renters and the average DOM to better understand the local rental market conditions.
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.