Location: Rio Blanco County, CO | Metro: Garfield 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 | $1,100 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $2,010 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,450 | $287,707 | 0.5% | F |
| 3BR | $2,010 | $402,348 | 0.5% | F |
| 4BR | $2,160 | $486,917 | 0.44% | F |
| 5BR | $2,506 | $584,159 | 0.43% | F |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,260 for ZIP 81641 (Meeker, CO) will sufficiently cover the mortgage on a home priced at $400,428. The data shows that the median home value in Meeker is around $392,305, indicating that homes in this price range are typical. To accurately assess if the FMR can cover the mortgage, we would need specific mortgage rates and terms, which are not provided here. However, it's important to note that rental income alone may not fully cover mortgage payments, especially considering property taxes, maintenance costs, and insurance.
The investor could also be concerned about the level of renter demand in Meeker, given that only 26.5% of the population are renters. This figure is slightly lower than the 28.4% of renters in the broader Meeker area. While this percentage might seem low, it reflects the local market conditions. Investors should consider the stability of the local economy and the potential for long-term tenants, which can mitigate some risks associated with lower renter demand.
A final objection might center on whether Housing Choice Vouchers will keep pace with market rents, currently averaging $989. The data does not provide a direct comparison between voucher amounts and market rents. However, the Federal Fair Market Rent (FMR) is often used as a benchmark for voucher amounts. If the FMR is $1,260, it suggests that voucher holders might have sufficient funds to cover market rents. Nonetheless, this assumes that voucher recipients are willing to pay the full FMR, which isn't always the case.
To summarize, while the data provides insights into the rental market and fair market rents in Meeker, CO (ZIP 81641), it does not fully address all concerns. For a comprehensive analysis, investors should consult local real estate professionals and financial advisors to understand the specific dynamics of the Meeker housing market and how they impact investment decisions.
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.