For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 80929 (Colorado Springs, CO) is $2,110 a month. That is down 7.0% from $2,270 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, 80929 has the 10th-highest two-bedroom rent (county range $1,010–$2,430). The median county two-bedroom FMR in Colorado is $1,375, so ZIP 80929 is 54% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 80929
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,570
$1,470
−6.4%
$1,323–$1,617
1BR
$1,910
$1,800
−5.8%
$1,620–$1,980
2BR
$2,270
$2,110
−7.0%
$1,899–$2,321
3BR
$3,150
$2,930
−7.0%
$2,637–$3,223
4BR
$3,580
$3,360
−6.1%
$3,024–$3,696
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 80929
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,470
$1,800
$2,110
$2,930
$3,360
FY 2026
$1,570
$1,910
$2,270
$3,150
$3,580
FY 2025
$1,590
$1,920
$2,320
$3,250
$3,710
FY 2024
$1,570
$1,850
$2,290
$3,220
$3,790
FY 2023
$1,250
$1,450
$1,820
$2,590
$3,100
Two-bedroom rent in nearby El Paso County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 80929?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,110, that basic range is $1,899 to $2,321 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 80929 in?
ZIP 80929 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 80929 for FY 2027?
The two-bedroom FMR fell 7.0%, from $2,270 in FY 2026 to $2,110 in FY 2027. Since FY 2023 it has risen 15.9%.
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