FMR is near market; voucher and private rents are aligned.
1.07
1 BR
1 BR
1.23ratio
FMR$1,780
Market$1,450
vs market+$330
FMR is above market; underwrite to market rent.
1.23
2 BR
2 BR
1.07ratio
FMR$2,090
Market$1,960
vs market+$130
FMR is near market; voucher and private rents are aligned.
1.07
3 BR
3 BR
1.31ratio
FMR$2,900
Market$2,220
vs market+$680
FMR is above market; underwrite to market rent.
1.31
4 BR
4 BR
1.34ratio
FMR$3,320
Market$2,480
vs market+$840
FMR is above market; underwrite to market rent.
1.34
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 80939 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 80939 (Colorado Springs, CO) is $2,090 a month. That is up 20.1% 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, 80939 has the 11th-highest two-bedroom rent (county range $1,010–$2,430). The median county two-bedroom FMR in Colorado is $1,375, so ZIP 80939 is 52% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 80939
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,200
$1,460
+21.7%
$1,314–$1,606
1BR
$1,470
$1,780
+21.1%
$1,602–$1,958
2BR
$1,740
$2,090
+20.1%
$1,881–$2,299
3BR
$2,420
$2,900
+19.8%
$2,610–$3,190
4BR
$2,750
$3,320
+20.7%
$2,988–$3,652
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 80939
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,460
$1,780
$2,090
$2,900
$3,320
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 80939?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,090, that basic range is $1,881 to $2,299 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 80939 in?
ZIP 80939 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 80939 for FY 2027?
The two-bedroom FMR rose 20.1%, from $1,740 in FY 2026 to $2,090 in FY 2027. Since FY 2023 it has risen 41.2%.
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