Location: Prowers County, CO | Metro: Baca County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 81047, located in Prowers County, CO, reveals several key points that can influence investment decisions. The HUD Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000, which is significantly higher than the market rent reported by the Census ACS at $453. This disparity indicates that voucher tenants will likely cashflow at the HUD FMR, providing a strong financial advantage for landlords.
To further understand the dynamics, consider the median home value in the area, which stands at $142,461. Using this figure, we can calculate the rent-to-price ratio. Given the market rent of $453, the annual rent would be approximately $5,436, resulting in a rent-to-price ratio of about 3.8%. This ratio suggests that rental properties in this area are undervalued relative to their purchase price, making them attractive for both short-term cashflow and long-term investment.
The days on market (DOM) and the percentage of price cuts are not available, but these metrics typically play a role in determining the balance between renting and buying. However, given the substantial gap between the HUD FMR and the market rent, it is evident that voucher holders will find it easier to secure housing at the higher FMR rate without needing to negotiate significant price reductions.
The strongest angle for investors in ZIP 81047 is cashflow. With the HUD FMR substantially above the current market rent, landlords can expect positive cashflow when renting to voucher tenants, especially considering the relatively low median home values in the area. This makes the region particularly appealing for those looking to generate immediate income from their investments.
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.