Location: La Plata County, CO | Metro: Archuleta County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,390 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
U.S. Census Bureau data (2024)
The market in ZIP 81122, Bayfield, CO, is characterized by a specific set of conditions that paint a picture of a rental market in flux. The Fair Market Rent (FMR) for the area is set at $1,680 for fiscal year 2026, indicating a benchmark for affordable rental prices. However, the actual market rent as per the Census ACS data stands at $1,491, suggesting that the current rents are below the FMR. This gap could imply either a lag in rent adjustments or a competitive market where landlords are offering lower rates to attract tenants.
A 0.1% price-cut share reveals that very few landlords are reducing their asking prices, which might indicate a relatively stable market where property values are holding steady. The median home value in Bayfield is $509,422, reflecting a higher-end residential market. Given these figures, it appears that the demand for rentals in Bayfield is currently meeting supply, but without significant upward pressure on rents.
The 15.9% renter share provides insight into the overall housing dynamics. With such a low percentage of renters, the majority of residents own their homes, which suggests a community with deep roots and possibly less transient population. However, a lower renter share also means that there is a smaller pool of potential renters, which can lead to long-term housing pressure if the local economy grows and attracts more people seeking rental properties. Landlords and small-portfolio investors should be attentive to economic indicators and demographic shifts that could affect this balance.
In summary, Bayfield's rental market is defined by a modest gap between FMR and actual rents, minimal price cuts, and a predominantly homeowner population. These factors suggest a market that is currently balanced but could face increasing demand for rental units if the broader economic environment changes, thereby influencing the housing pressure over time.
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.