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Lincoln County/Karval/80823

80823

ZIPSAFMR
Lincoln County, CO
Zillow

ZIP Investment Score

100Above average

095130300
BRFMR
Eff. Rent
0 BR$840$840
1 BR$880$880
2 BR$1,140$1,140
3 BR$1,480$1,480
4 BR$1,770$1,770
5 BR$2,035Not available
6 BR$2,341Not available
7 BR$2,692Not available
8 BR$3,096Not available

Purchase Price Calculator

Maximum purchase price
$107,487

Cost breakdown

+Likely effective rent$1,140
HUD FMRUsed$1,140
Market rentN/A
Est. payment standardN/A
-Principal and interest-$544
Loan amount$85,990
Down payment$21,497
Rate6.50%
Term30 years
-Operating costs-$396
Property taxes-$107
Insurance-$175
Utilities$0
HOA$0
Management-$114
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,546(86.3% ROI)
Projected value
$115,752
Return breakdown
Property appreciation+$8,265
Loan principal paid down+$3,081
Rental cash flow+$7,200
5-year hold
+$31,619(147.1% ROI)
Projected value
$121,612
Return breakdown
Property appreciation+$14,125
Loan principal paid down+$5,494
Rental cash flow+$12,000
10-year hold
+$67,196(312.6% ROI)
Projected value
$137,592
Return breakdown
Property appreciation+$30,105
Loan principal paid down+$13,091
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

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
--
Mortgage rate
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ZIP 80823 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 80823 (Karval, CO) is $1,140 a month. That is up 1.8% from $1,120 in FY 2026. Karval is in the Lincoln County, CO non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $1,070. Among 6 ZIP codes in Lincoln County, 80823 has the 3rd-highest two-bedroom rent (county range $1,010–$1,890). The median county two-bedroom FMR in Colorado is $1,375, so ZIP 80823 is 17% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 80823
BedroomsFY 2027Change90–110% range
Studio$8400.0%$756–$924
1BR$880+2.3%$792–$968
2BR$1,140+1.8%$1,026–$1,254
3BR$1,480+0.7%$1,332–$1,628
4BR$1,770+1.1%$1,593–$1,947

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 80823
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$840$880$1,140$1,480$1,770
FY 2026$840$860$1,120$1,470$1,750
FY 2025$930$930$1,210$1,520$1,930
FY 2024area FMR$871$876$1,124$1,404$1,810
FY 2023area FMR$775$780$995$1,245$1,695

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Lincoln County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 80823
80804$1,050−7.9%
80818$1,010−11.4%
80821$1,010−11.4%
80823Current$1,140—
80826$1,390+21.9%
80828$1,890+65.8%

Questions about ZIP 80823 rents

How much will Section 8 pay for a two-bedroom in ZIP 80823?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,070, which applies unless the housing authority uses Small Area FMRs, that basic range is $963 to $1,177 a month; under the ZIP-level Small Area FMR of $1,140 it would be $1,026 to $1,254. 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 ZIP 80823 in?

ZIP 80823 is in the Lincoln County, CO non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,070.

How much did fair market rent change in ZIP 80823 for FY 2027?

The two-bedroom FMR rose 1.8%, from $1,120 in FY 2026 to $1,140 in FY 2027. Since FY 2025 it has fallen 5.8%.

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

County fair market rentKarval, CO fair market rentCO statewide rentsWhat is SAFMR?Data sources