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El Paso County/Colorado Springs/80924

80924

ZIPSAFMR
El Paso County, CO
Zillow

ZIP Investment Score

75Below average

095130300
BRFMR
Eff. Rent
0 BR$1,480$1,470
1 BR$1,800$1,570
2 BR$2,160$2,100
3 BR$3,030$2,500
4 BR$3,460$2,870
5 BR$3,979Not available
6 BR$4,576Not available
7 BR$5,262Not available
8 BR$6,052Not available

Purchase Price Calculator

Maximum purchase price
$250,143

Cost breakdown

+Likely effective rent$2,100
HUD FMR$2,160
Market rentUsed$2,100
Est. payment standard (98%)$2,120
-Principal and interest-$1,265
Loan amount$200,114
Down payment$50,029
Rate6.50%
Term30 years
-Operating costs-$635
Property taxes-$250
Insurance-$175
Utilities$0
HOA$0
Management-$210
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,603(67.2% ROI)
Projected value
$269,376
Return breakdown
Property appreciation+$19,234
Loan principal paid down+$7,170
Rental cash flow+$7,200
5-year hold
+$57,656(115.2% ROI)
Projected value
$283,013
Return breakdown
Property appreciation+$32,871
Loan principal paid down+$12,785
Rental cash flow+$12,000
10-year hold
+$124,526(248.9% ROI)
Projected value
$320,204
Return breakdown
Property appreciation+$70,061
Loan principal paid down+$30,465
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.01
1 BR
1.15
2 BR
1.03
3 BR
1.21
4 BR
1.21
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 80924 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 80924 (Colorado Springs, CO) is $2,160 a month. That is down 10.0% from $2,400 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, 80924 has the 6th-highest two-bedroom rent (county range $1,010–$2,430). The median county two-bedroom FMR in Colorado is $1,375, so ZIP 80924 is 57% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 80924
BedroomsFY 2027Change90–110% range
Studio$1,480−9.8%$1,332–$1,628
1BR$1,800−9.5%$1,620–$1,980
2BR$2,160−10.0%$1,944–$2,376
3BR$3,030−9.8%$2,727–$3,333
4BR$3,460−9.9%$3,114–$3,806

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 80924
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,480$1,800$2,160$3,030$3,460
FY 2026$1,640$1,990$2,400$3,360$3,840
FY 2025$1,820$2,200$2,660$3,730$4,260
FY 2024$1,780$2,110$2,600$3,660$4,310
FY 2023$1,530$1,780$2,230$3,170$3,800

Two-bedroom rent in nearby El Paso County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 80924
80918$1,720−20.4%
80919$1,790−17.1%
80920$1,970−8.8%
80921$2,120−1.9%
80922$1,970−8.8%
80923$1,960−9.3%
80924Current$2,160—
80925$2,280+5.6%
80926$1,540−28.7%
80927$2,430+12.5%
80928$1,640−24.1%
80929$2,110−2.3%

Questions about ZIP 80924 rents

How much will Section 8 pay for a two-bedroom in ZIP 80924?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,160, that basic range is $1,944 to $2,376 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 80924 in?

ZIP 80924 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 80924 for FY 2027?

The two-bedroom FMR fell 10.0%, from $2,400 in FY 2026 to $2,160 in FY 2027. Since FY 2023 it has fallen 3.1%.

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