Location: Costilla County, CO | Metro: Costilla County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
ZIP code 81138 is not a renter-heavy area based on the provided data. With a population of 17 and only 0.0% of residents identified as renters, it is clear that homeownership dominates this ZIP code. The lack of specific data regarding the percentage of renters and the median household income indicates that there is minimal presence of a rental market, which also implies that the demand for Section 8 vouchers is likely very low.
The absence of market rent figures makes it impossible to calculate the exact percentage of local income consumed by typical rent. However, considering the Fair Market Rent (FMR) of $1,000 for the fiscal year 2026 in the metro area, we can infer that if there were renters in this ZIP code, they would be paying close to or below this amount. This FMR serves as a benchmark for housing costs in the region, and any actual rents paid by tenants would need to be compared against this figure.
A landlord in ZIP code 81138 should not expect a high volume of Section 8 tenants due to the extremely low number of renters in the area. The tenant pool would be limited, and the competition for these vouchers would likely be intense among the few properties available for rent. Given the scarcity of data, landlords must rely on broader regional trends to inform their expectations about the types of tenants who might seek out rentals in this ZIP code. They should prepare for a niche market where potential tenants would be highly reliant on voucher assistance, given the FMR context.
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.