Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Drake, CO fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Drake, CO is $1,620 a month. That is up 2.5% from $1,580 in FY 2026. Drake is in the Fort Collins-Loveland, CO MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,759. The median county two-bedroom FMR in Colorado is $1,375, so Drake is 18% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Drake, CO
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,380
$1,430
+3.6%
$1,287–$1,573
1BR
$1,400
$1,470
+5.0%
$1,323–$1,617
2BR
$1,580
$1,620
+2.5%
$1,458–$1,782
3BR
$2,170
$2,190
+0.9%
$1,971–$2,409
4BR
$2,320
$2,380
+2.6%
$2,142–$2,618
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Drake, CO
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,430
$1,470
$1,620
$2,190
$2,380
FY 2026
$1,380
$1,400
$1,580
$2,170
$2,320
FY 2025
$1,300
$1,300
$1,530
$2,150
$2,300
FY 2024
$1,160
$1,170
$1,430
$2,020
$2,230
FY 2023
$1,060
$1,070
$1,340
$1,910
$2,180
Questions about Drake, CO rents
How much will Section 8 pay for a two-bedroom in Drake, CO?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,759, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,583 to $1,935 a month; under the ZIP-level Small Area FMR of $1,620 it would be $1,458 to $1,782. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Drake, CO in?
Drake, CO is in the Fort Collins-Loveland, CO MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,759.
How much did fair market rent change in Drake, CO for FY 2027?
The two-bedroom FMR rose 2.5%, from $1,580 in FY 2026 to $1,620 in FY 2027. Since FY 2023 it has risen 20.9%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set