Location: Montrose County, CO | Metro: Montrose County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
ZIP code 81402, located within Montrose County, CO, has a Fair Market Rent (FMR) of $1,170 for the fiscal year 2026. This figure serves as a benchmark for understanding the rental market dynamics within the county. Given that the market rent and home values for this ZIP are currently not available, we must rely on the FMR to make some inferences.
In comparison to typical ZIP codes within Montrose County, CO, where FMRs can vary but are generally reflective of the overall cost of living, the $1,170 FMR for ZIP 81402 suggests it could be a mid-tier neighborhood. The absence of specific market rent data means we cannot directly compare it to local market rates, but the FMR provides insight into what is considered a fair rent for subsidized housing programs.
The lack of data on home values and the percentage of renters indicates that ZIP 81402 might not have been extensively analyzed or reported upon. However, the high FMR could imply that it is slightly above average in terms of rental costs compared to other areas in Montrose County. If the actual market rent were lower than the FMR, it would suggest that 81402 could be a value pocket for landlords participating in the Section 8 program, as they could potentially charge closer to the FMR while offering rents below the market rate.
To determine if 81402 is a Section 8 sweet spot, we would need more detailed information about the renter share and the relationship between market rents and home values. Typically, a higher-than-average renter share with lower-than-average home values can indicate such a sweet spot, as it suggests a significant portion of residents rely on rental housing, possibly including those benefiting from Section 8 subsidies.
Given the limited data, ZIP 81402 appears to be a mid-tier neighborhood based on its FMR. To fully assess its status as a value pocket or premium sub-market, further analysis of local market conditions is necessary. Landlords and small-portfolio investors should consider this ZIP code as potentially valuable for Section 8 participation, contingent upon the actual market rents being lower than the FMR.
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.