Location: San Miguel County, CO | Metro: San Miguel 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 | $1,130 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,530 |
| 5 Bedrooms | $2,935 |
| 6 Bedrooms | $3,287 |
| 7 Bedrooms | $3,550 |
| 8 Bedrooms | $3,728 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,630 | $803,426 | 0.2% | F |
U.S. Census Bureau data (2024)
The ZIP code 81426, located in Ophir, CO within the San Miguel County, presents a unique profile when compared against typical ZIP codes in the same county. With a Fair Market Rent (FMR) of $1,650 for the fiscal year 2026, it's important to note that the market rent for this area is currently not available, which could indicate limited rental data or an emerging rental market. The median home value in ZIP 81426 is $986,215, significantly higher than many other areas in San Miguel County.
A key distinguishing factor is the renter share, which stands at 28.8%. This figure is notably higher than what might be seen in other ZIP codes within the county, suggesting a stronger presence of renters in the area. However, given the high median home value, it's unlikely that this ZIP code represents a value pocket for Section 8 housing, as the cost of living and owning property is quite elevated.
To determine if ZIP 81426 is a mid-tier neighborhood or a premium sub-market within the San Miguel County metro, we need to consider the FMR and home value figures together. The FMR of $1,650 is likely indicative of the average rental price for a two-bedroom apartment, which is a standard benchmark for FMR calculations. Given that the home value is exceptionally high, but the renter share is also relatively high, this could suggest that while it's not a value pocket, it isn't purely a premium sub-market either.
In conclusion, ZIP 81426 appears to be a niche market within the San Miguel County metro, characterized by high home values and a substantial renter population. While the high median home value rules out being a value pocket, the significant renter share suggests that there may be opportunities for landlords and small-portfolio investors, particularly those willing to cater to the higher end of the rental market. It's neither a straightforward mid-tier neighborhood nor a premium sub-market, but rather a blend of both characteristics, making it an interesting area to monitor for investment opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.