Location: Baca County, CO | Metro: Baca County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 81073 in Baca County, Colorado reveals several key points for potential landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $970. However, the current market rent, according to Census ACS data, stands at $626. This indicates that the rent math does not currently work in favor of landlords aiming to meet or exceed the FMR, as the market rent is significantly lower. Landlords would need to either accept lower rents or find ways to increase their property's appeal to command higher rates.
Secondly, regarding the affordability of acquisition, the data presents some challenges. The median home value is listed as N/A, which suggests limited available data on home values. Additionally, the Days on Market (DOM) and the percentage of homes requiring a price cut are also not provided, making it difficult to assess the ease or cost of acquiring properties in this area. Without these figures, it's hard to gauge how competitive the market is for property purchases.
Lastly, we examine tenant demand. With a population of 1,865 individuals and a renter share of 30.7%, there is a moderate level of demand for rental properties. This translates to approximately 572 residents who are likely seeking rental housing. While the number is not large, it does provide a stable base of potential tenants for landlords.
In conclusion, ZIP code 81073 offers a mixed picture for real estate investment. The discrepancy between the FMR and the actual market rent poses a significant challenge for achieving high rental income. Limited data on median home values, DOM, and price-cut percentages make it harder to evaluate the cost and ease of acquiring properties. Despite these issues, the presence of a consistent renter base ensures a steady demand for rental units. Landlords and investors must carefully consider the financials and local market dynamics before committing to this area.
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.