Location: Montezuma County, CO | Metro: Montezuma County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
U.S. Census Bureau data (2024)
The ZIP code 81330 is a prime example of a renter-heavy area with significant potential for Section 8 tenants. With 100.0% of the population renting, this ZIP code is entirely dependent on rental housing. This high percentage indicates a robust demand for rental properties, particularly those that can accommodate tenants using housing vouchers.
Despite the lack of specific median household income data for ZIP 81330, we can infer that the residents are likely to have low incomes given the reliance on rental housing and the use of Section 8 vouchers. The Fair Market Rent (FMR) for the metro area, set at $1,200 for fiscal year 2026, provides a benchmark for assessing the affordability of rental units in this ZIP code. Typically, Section 8 voucher holders aim to spend no more than 30% of their income on rent, suggesting that the average market rent in 81330 should align closely with the FMR to be accessible to these tenants.
The absence of median household income data makes it challenging to calculate the exact percentage of local income spent on rent. However, given the FMR and the nature of Section 8 assistance, it's reasonable to assume that the typical rent in 81330 consumes a substantial portion of the local residents' income, likely above the recommended 30% threshold for affordability. This underscores the importance of FMR as a guideline for setting rents that are affordable for voucher recipients.
A landlord operating in ZIP 81330 should expect a tenant pool that predominantly relies on Section 8 vouchers to cover their rent. These tenants will be looking for stable, affordable housing options and will be sensitive to rent increases beyond the FMR. Landlords must be prepared to comply with HUD regulations and conduct thorough background checks, as is standard practice for Section 8 properties. Additionally, maintaining a property that meets the minimum standards for health and safety set by the Housing Quality Standards (HQS) is essential to remain eligible for the program.
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.