Location: Lake County, CO | Metro: Chaffee County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,450 |
| 5 Bedrooms | $2,842 |
| 6 Bedrooms | $3,183 |
| 7 Bedrooms | $3,438 |
| 8 Bedrooms | $3,610 |
ZIP code 81228, located within the Lake County, CO metro area, presents an interesting case for real estate analysis. The Fair Market Rent (FMR) for this ZIP code is set at $1,380 for fiscal year 2026, which serves as a benchmark for affordable housing standards.
However, the lack of specific market rent and home value data for ZIP 81228 makes it challenging to directly compare these metrics against the broader trends observed in Lake County, CO. Despite this limitation, we can still draw some inferences based on the available information.
The absence of market rent data suggests that either there isn't a significant rental market in this area, or the data collection has not been comprehensive enough to provide reliable figures. Similarly, the missing home value data could indicate that the majority of properties in 81228 are owner-occupied rather than rented, or that the local real estate market lacks sufficient transaction volume for statistical significance.
Given the FMR of $1,380, if we assume that the market rent is lower or equal to this figure, it would imply that 81228 could be considered a value pocket within its metro. This assumption is based on the fact that properties priced at or below the FMR are typically more accessible to low-income renters who rely on Section 8 vouchers.
A high renter share percentage, even when not specified, would normally signal a higher concentration of rental properties and potentially a greater demand for affordable housing options. If 81228 indeed has a higher-than-average renter share but lower home values compared to other ZIP codes in Lake County, it would further support the notion of it being a sweet spot for Section 8 investments.
To conclude, while the specific figures for market rent and home values are unavailable, the FMR of $1,380 and the potential for a high renter share suggest that ZIP 81228 is likely a value pocket within the Lake County, CO metro area. Landlords and small-portfolio investors should consider this ZIP code as a viable option for affordable housing investments, particularly those aimed at serving the needs of low-income tenants through the Section 8 program.
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.