Location: Fremont County, CO | Metro: Pueblo, CO MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
U.S. Census Bureau data (2024)
The SAFMR (Small Area Fair Market Rent) for a 2-bedroom apartment in ZIP 81253 for FY 2024 is set at $1160. This figure is specific to this ZIP code, reflecting the localized housing costs. To provide context, recent data from Zillow indicates that there are limited rental listings available in ZIP 81253, making it challenging to pinpoint an exact local market rent figure. However, the SAFMR serves as a benchmark for the federal government's Housing Choice Voucher program, commonly known as Section 8.
When a landlord participates in the Section 8 program, they receive payments from the government on behalf of their tenants. These payments cover the difference between the tenant's contribution and the SAFMR. The tenant is required to pay 30% of their income towards rent, and the government will cover the remainder up to the SAFMR limit.
For example, if a tenant's income is $1500 per month, they would contribute $450 (30% of $1500) towards the rent. The government would then pay the remaining balance up to $1160. If the total rent is higher than $1160, the landlord must absorb the additional cost beyond the voucher amount.
In ZIP 81253, the typical reimbursement gap or surplus for a 2-bedroom voucher can be calculated based on the SAFMR. If the market rent exceeds $1160, landlords will face a reimbursement gap, meaning they will receive less than the full market rent. Conversely, if the market rent is below $1160, landlords might see a surplus, where the voucher payment exceeds the market rent.
To determine the exact gap or surplus, you would need to know the specific market rent rates for 2-bedroom units in ZIP 81253. Given the limited availability of rental listings, it is advisable to consult local real estate agents or rental property managers for precise market data.
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.