Section 8 Fair Market Rent (FMR) for ZIP 81081 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 81081, located in Montrose, Colorado, is a small town situated along the Gunnison River in the heart of the Rocky Mountains. Known for its scenic beauty and outdoor recreational opportunities, Montrose attracts both residents and tourists. The real estate market here is influenced by the local economy, which is largely based on agriculture, manufacturing, and retail trade.

• The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $1,120.
• The median home value in this area is currently N/A, indicating limited data availability but also suggesting potential for growth.
• Renters make up 63.5% of the housing market, signaling a strong demand for rental properties.
• The median household income in ZIP 81081 is $39,255, which can impact affordability and demand for rental units.
• The days on market (DOM) figure for properties in this area is N/A, which could imply either a very active market or insufficient transaction data.
• The market rent for the area is listed as N/A, which suggests that more research might be needed to understand the current rental trends.

Investors should note that while there's a significant renter population, the lack of specific market rent and median home value data indicates a need for further investigation into the local real estate trends. The Fair Market Rent provides a benchmark for pricing rental units, and given the median income, it's crucial to target affordable units to cater to the majority of the residents. The high percentage of renters suggests that rental properties could perform well, especially if they align with the FMR guidelines and meet the needs of the local community. However, the absence of DOM data might mean that property turnover rates are either fast or that there isn't enough recent data to draw conclusions. In summary, while there are promising indicators for the rental market, due diligence is required to fully understand the investment landscape in Montrose.

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.