Location: Grand Junction, CO | Metro: Grand Junction, CO MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
U.S. Census Bureau data (2024)
The ZIP code 81646 is characterized by a population of 115 individuals, with 25.5% of them being renters. This indicates that the majority of the residents in this area own their homes rather than renting, suggesting a homeowner-dominated landscape where the availability of Section 8 housing vouchers might be limited.
The median household income in ZIP 81646 stands at $67,321. Without specific market rent data for the area, we can infer that typical rental costs would likely consume a significant portion of the local income, especially considering the relatively low number of renters compared to homeowners. However, the lack of detailed rental cost information makes it challenging to provide an exact percentage.
To gain insight into the affordability of housing for potential Section 8 tenants, we can compare the local median income to the Fair Market Rent (FMR) set by HUD for FY 2024, which is $1020 for this ZIP code. This FMR figure represents the maximum amount that a voucher holder can pay towards rent. Given the median income, a landlord in ZIP 81646 should expect tenants who rely on Section 8 vouchers to have limited financial flexibility beyond the rent payment.
A landlord operating in ZIP 81646 should anticipate a tenant pool that heavily depends on government assistance due to the scarcity of vouchers and the economic conditions that necessitate such support. These tenants will be sensitive to any additional costs beyond the base rent covered by their vouchers, such as utilities or maintenance fees.
In summary, while ZIP 81646 has a modest renter population, the reliance on Section 8 vouchers suggests a tenant base that requires affordable housing options. The FMR of $1020 will be a critical benchmark for landlords to ensure their properties remain attractive to voucher holders.
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.