Location: Pitkin County, CO | Metro: Eagle County, CO
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,700 |
| 1 Bedroom | $1,920 |
| 2 Bedrooms | $2,410 |
| 3 Bedrooms | $3,020 |
| 4 Bedrooms | $3,850 |
| 5 Bedrooms | $4,466 |
| 6 Bedrooms | $5,002 |
| 7 Bedrooms | $5,402 |
| 8 Bedrooms | $5,672 |
U.S. Census Bureau data (2024)
The ZIP code 81642 is a renter-heavy area with 100.0% of its population renting their homes. This indicates a high demand for rental properties, particularly those that can accommodate Section 8 tenants. The lack of reported median household income makes it challenging to provide a precise percentage of income spent on rent, but we can infer that the rental market here is likely to be sensitive to price changes given the reliance on rental housing.
Market rents in ZIP 81642 are not specified, which means we must rely on other indicators such as the Fair Market Rent (FMR) to gauge affordability. The FMR for the area is set at $2,160 for fiscal year 2026, which represents the metro level standard. Assuming that the actual market rent aligns closely with this figure, landlords should prepare for a scenario where typical rents might consume a significant portion of the local residents' incomes, especially if the median income is lower than the FMR.
The absence of specific income data suggests that there could be a wide range of economic statuses among the residents, from low-income families who heavily depend on housing vouchers to moderate-income households. Therefore, landlords in 81642 should anticipate a diverse tenant pool, with a strong presence of Section 8 voucher holders due to the high percentage of renters. It's crucial for landlords to understand the intricacies of working with housing vouchers, including the need for regular inspections and compliance with HUD standards.
To summarize, 81642 is an area dominated by renters, making it a prime location for landlords looking to cater to a tenant base that includes a substantial number of Section 8 voucher users. The economic profile of the area is unclear without median income data, but the reliance on rental housing points towards a market where affordable options are in high demand. Landlords should be prepared for tenants whose rent is subsidized by government programs, ensuring they meet all legal requirements for such tenancies.
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.