Section 8 Fair Market Rent (FMR) for ZIP 81135 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$910
1 Bedroom	$940
2 Bedrooms	$1,220
3 Bedrooms	$1,450
4 Bedrooms	$1,890
5 Bedrooms	$2,192
6 Bedrooms	$2,455
7 Bedrooms	$2,651
8 Bedrooms	$2,784

None of the search results provide specific real estate metrics for ZIP 81135 that align with the required analysis for a Section 8 portfolio strategy. Given the lack of concrete data such as market rates, median home values, renter share, median income, and other relevant figures, it's challenging to definitively categorize ZIP 81135 as either a cash-flow anchor, an appreciation play, or a diversifier. However, based on the available Fair Market Rent (FMR) figure for the metro area of $1,090 for fiscal year 2026, we can infer some strategic insights. The FMR is set by HUD and reflects the maximum rental payment that a household receiving Section 8 assistance would be responsible for.

In the absence of specific market rate data, if the FMR of $1,090 is higher than typical rental rates in ZIP 81135, it could suggest that this area serves as a cash-flow anchor. This means that landlords can expect a steady stream of income from Section 8 tenants without having to cut prices significantly to attract renters. The lack of competition in rental rates might indicate a stable demand for affordable housing.

Without median home value data, it's difficult to assess whether ZIP 81135 is an appreciation play. However, areas with low home values often see slower appreciation due to limited economic activity and population growth. If ZIP 81135 falls into this category, it may not offer significant capital gains opportunities.

The median income figure is also missing, which is crucial for determining the proportion of renters who rely on Section 8 assistance. A lower median income suggests a higher dependency on government programs, which can make the area a reliable part of a diversified portfolio but less likely to appreciate rapidly.

To make a more informed decision, further research into the local rental market, property values, and demographic data is necessary. Landlords and investors should consider these factors alongside the $1,090 FMR to develop a robust portfolio strategy for ZIP 81135.

Data Sources: FMR data from HUD (2027).

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.