Location: Montrose County, CO | Metro: Montrose County, CO
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $202,623 | 0.52% | F |
| 3BR | $1,470 | $300,091 | 0.49% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 81424, which includes Nucla, CO, is set at $1,040 for metro FY 2026. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, not the actual rent you will charge your tenants. The U.S. Department of Housing and Urban Development (HUD) uses this number to determine the maximum amount that a voucher holder can pay for rent in the area.
To put this into perspective, the average rent in Nucla is $954 according to the Census American Community Survey (ACS) data. This suggests that the FMR is slightly above the local average, providing a modest cushion for landlords who participate in the Section 8 program.
The 32.2% share of renters in the area indicates a steady demand for rental properties. If you're looking to enter the market with a Section 8 rental property, you can expect a reasonable number of potential tenants interested in your unit.
When it comes to acquiring a property in Nucla, the median home value is approximately $260,536. This is the price point you should consider if you're looking to purchase a home for a Section 8 rental. While this may seem high, remember that the Section 8 program provides a reliable source of income through the Housing Assistance Payments (HAP) contract.
Before committing to a Section 8 rental property in Nucla, verify that the property meets HUD's housing quality standards (HQS). These standards ensure that the home is safe, decent, and sanitary for tenants. Compliance with HQS is mandatory and will be inspected regularly to maintain eligibility in the program.
In summary, the FMR of $1,040 provides a benchmark for the Section 8 program, slightly above the local average of $954. With a 32.2% renter share, there is a consistent demand for rental properties. The median home value of $260,536 gives an idea of the acquisition cost. Ensure your property complies with HQS to avoid disqualification and maintain a steady income stream.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.