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El Paso County/Colorado Springs/80916

80916

ZIPSAFMR
El Paso County, CO
Zillow

ZIP Investment Score

91Below average

095130300
BRFMR
Eff. Rent
0 BR$1,090$1,200
1 BR$1,330$1,460
2 BR$1,560$1,720
3 BR$2,160$2,020
4 BR$2,480$2,140
5 BR$2,852Not available
6 BR$3,280Not available
7 BR$3,772Not available
8 BR$4,338Not available

Purchase Price Calculator

Maximum purchase price
$193,675

Cost breakdown

+Likely effective rent$1,720
HUD FMR$1,560
Market rent$1,880
Est. payment standard (110%)Used$1,720
-Principal and interest-$979
Loan amount$154,940
Down payment$38,735
Rate6.50%
Term30 years
-Operating costs-$541
Property taxes-$194
Insurance-$175
Utilities$0
HOA$0
Management-$172
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,643(71.4% ROI)
Projected value
$208,567
Return breakdown
Property appreciation+$14,892
Loan principal paid down+$5,551
Rental cash flow+$7,200
5-year hold
+$47,350(122.2% ROI)
Projected value
$219,125
Return breakdown
Property appreciation+$25,450
Loan principal paid down+$9,899
Rental cash flow+$12,000
10-year hold
+$101,833(262.9% ROI)
Projected value
$247,920
Return breakdown
Property appreciation+$54,245
Loan principal paid down+$23,588
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.82
1 BR
0.83
2 BR
0.83
3 BR
1.07
4 BR
1.16
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 80916 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 80916 (Colorado Springs, CO) is $1,560 a month. That is down 5.5% from $1,650 in FY 2026. Colorado Springs is in the Colorado Springs, CO HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 58 ZIP codes in El Paso County, 80916 has the 42nd-highest two-bedroom rent (county range $1,010–$2,430). The median county two-bedroom FMR in Colorado is $1,375, so ZIP 80916 is 13% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 80916
BedroomsFY 2027Change90–110% range
Studio$1,090−4.4%$981–$1,199
1BR$1,330−4.3%$1,197–$1,463
2BR$1,560−5.5%$1,404–$1,716
3BR$2,160−5.7%$1,944–$2,376
4BR$2,480−5.0%$2,232–$2,728

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 80916
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,090$1,330$1,560$2,160$2,480
FY 2026$1,140$1,390$1,650$2,290$2,610
FY 2025$1,120$1,360$1,640$2,300$2,630
FY 2024$1,110$1,320$1,620$2,280$2,690
FY 2023$960$1,120$1,400$1,990$2,380

Two-bedroom rent in nearby El Paso County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 80916
80910$1,500−3.8%
80911$1,670+7.1%
80912$1,620+3.8%
80913$1,890+21.2%
80914$1,900+21.8%
80915$1,480−5.1%
80916Current$1,560—
80917$1,460−6.4%
80918$1,720+10.3%
80919$1,790+14.7%
80920$1,970+26.3%
80921$2,120+35.9%

Questions about ZIP 80916 rents

How much will Section 8 pay for a two-bedroom in ZIP 80916?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,560, that basic range is $1,404 to $1,716 a month. 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 80916 in?

ZIP 80916 is in the Colorado Springs, CO HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 80916 for FY 2027?

The two-bedroom FMR fell 5.5%, from $1,650 in FY 2026 to $1,560 in FY 2027. Since FY 2023 it has risen 11.4%.

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 rentColorado Springs, CO fair market rentCO statewide rentsWhat is SAFMR?Data sources