Location: Routt County, CO | Metro: Moffat County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,560 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,860 |
| 5 Bedrooms | $3,318 |
| 6 Bedrooms | $3,716 |
| 7 Bedrooms | $4,013 |
| 8 Bedrooms | $4,214 |
U.S. Census Bureau data (2024)
The ZIP code 81638 presents a unique challenge for both renters and landlords due to the lack of specific data on median income and market rate rents. However, with the information available, we can still analyze the situation effectively.
Renters in ZIP 81638 face an unclear affordability landscape, as the median income and market rate rents are not specified. This absence of critical data makes it difficult to assess whether the average household can comfortably cover their housing costs. Despite this, we know that the Federal Market Rent (FMR) for the area, as set for metro FY 2026, is $1,710. This figure represents the standard payment for housing vouchers, providing a benchmark for affordable rental rates.
The ZIP code has a relatively low percentage of renters at 17.1%, with a total population of 69. This suggests a smaller pool of potential tenants, which could intensify competition among landlords. Given the limited number of residents, securing a tenant who can pay consistently becomes paramount. The affordability gap, therefore, plays a crucial role in determining the success of rental properties in this area.
Landlords considering their strategy should focus on the voucher payment standard of $1,710. This amount ensures a steady stream of income from tenants who qualify for housing assistance, reducing the risk of non-payment. However, relying solely on voucher tenants might limit the property's revenue potential if the market rate is higher than the FMR.
The takeaway for landlords is to balance their portfolio between voucher and cash-paying tenants. While voucher tenants provide financial stability, understanding the local market dynamics and the actual median income of households is essential for maximizing occupancy and income. Landlords should be prepared to offer competitive pricing and possibly consider the voucher program to attract a reliable tenant base in a small and potentially tight rental market.
To make informed decisions, landlords should actively seek out current market trends and income levels through local real estate agents or community resources. This will help them navigate the affordability gap and compete effectively in the ZIP 81638 rental market.
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.