FMR is below market; voucher rent may lag private rents.
0.82
1 BR
1 BR
0.95ratio
FMR$1,380
Market$1,450
vs market-$70
FMR is near market; voucher and private rents are aligned.
0.95
2 BR
2 BR
0.77ratio
FMR$1,620
Market$2,100
vs market-$480
FMR is below market; voucher rent may lag private rents.
0.77
3 BR
3 BR
1.04ratio
FMR$2,240
Market$2,160
vs market+$80
FMR is near market; voucher and private rents are aligned.
1.04
4 BR
4 BR
1.03ratio
FMR$2,570
Market$2,490
vs market+$80
FMR is near market; voucher and private rents are aligned.
1.03
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 80931 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 80931 (Colorado Springs, CO) is $1,620 a month. That is down 6.9% from $1,740 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, 80931 is tied for the 28th-highest two-bedroom rent (county range $1,010–$2,430). The median county two-bedroom FMR in Colorado is $1,375, so ZIP 80931 is 18% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 80931
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,200
$1,130
−5.8%
$1,017–$1,243
1BR
$1,470
$1,380
−6.1%
$1,242–$1,518
2BR
$1,740
$1,620
−6.9%
$1,458–$1,782
3BR
$2,420
$2,240
−7.4%
$2,016–$2,464
4BR
$2,750
$2,570
−6.5%
$2,313–$2,827
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 80931
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,130
$1,380
$1,620
$2,240
$2,570
FY 2026
$1,200
$1,470
$1,740
$2,420
$2,750
FY 2025
$1,220
$1,470
$1,780
$2,490
$2,850
FY 2024
$1,190
$1,410
$1,730
$2,440
$2,870
FY 2023
$1,020
$1,180
$1,480
$2,100
$2,520
Two-bedroom rent in nearby El Paso County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 80931?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,620, that basic range is $1,458 to $1,782 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 80931 in?
ZIP 80931 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 80931 for FY 2027?
The two-bedroom FMR fell 6.9%, from $1,740 in FY 2026 to $1,620 in FY 2027. Since FY 2023 it has risen 9.5%.
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