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El Paso County/Colorado Springs/80951

80951

ZIPSAFMR
El Paso County, CO
Zillow

ZIP Investment Score

80Below average

095130300
BRFMR
Eff. Rent
0 BR$1,480$1,630
1 BR$1,800$1,750
2 BR$2,120$1,950
3 BR$2,940$2,230
4 BR$3,370$2,530
5 BR$3,875Not available
6 BR$4,457Not available
7 BR$5,125Not available
8 BR$5,894Not available

Purchase Price Calculator

Maximum purchase price
$227,853

Cost breakdown

+Likely effective rent$1,950
HUD FMR$2,120
Market rentUsed$1,950
Est. payment standard (95%)$2,010
-Principal and interest-$1,152
Loan amount$182,282
Down payment$45,571
Rate6.50%
Term30 years
-Operating costs-$598
Property taxes-$228
Insurance-$175
Utilities$0
HOA$0
Management-$195
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,250(68.6% ROI)
Projected value
$245,372
Return breakdown
Property appreciation+$17,520
Loan principal paid down+$6,531
Rental cash flow+$7,200
5-year hold
+$53,588(117.6% ROI)
Projected value
$257,794
Return breakdown
Property appreciation+$29,942
Loan principal paid down+$11,646
Rental cash flow+$12,000
10-year hold
+$115,568(253.6% ROI)
Projected value
$291,671
Return breakdown
Property appreciation+$63,818
Loan principal paid down+$27,750
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.87
1 BR
1.03
2 BR
1.09
3 BR
1.32
4 BR
1.33
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 80951 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 80951 (Colorado Springs, CO) is $2,120 a month. That is down 8.6% from $2,320 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, 80951 is tied for the 8th-highest two-bedroom rent (county range $1,010–$2,430). The median county two-bedroom FMR in Colorado is $1,375, so ZIP 80951 is 54% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 80951
BedroomsFY 2027Change90–110% range
Studio$1,480−7.5%$1,332–$1,628
1BR$1,800−8.2%$1,620–$1,980
2BR$2,120−8.6%$1,908–$2,332
3BR$2,940−9.0%$2,646–$3,234
4BR$3,370−8.2%$3,033–$3,707

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 80951
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,480$1,800$2,120$2,940$3,370
FY 2026$1,600$1,960$2,320$3,230$3,670
FY 2025$1,680$2,030$2,450$3,430$3,920
FY 2024$1,670$1,970$2,430$3,420$4,030
FY 2023$1,450$1,680$2,110$3,000$3,590

Two-bedroom rent in nearby El Paso County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 80951
80932$1,620−23.6%
80933$1,620−23.6%
80934$1,620−23.6%
80935$1,620−23.6%
80936$1,620−23.6%
80937$1,620−23.6%
80938$2,200+3.8%
80939$2,090−1.4%
80949$1,620−23.6%
80951Current$2,120—
80960$1,620−23.6%
80962$1,620−23.6%

Questions about ZIP 80951 rents

How much will Section 8 pay for a two-bedroom in ZIP 80951?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,120, that basic range is $1,908 to $2,332 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 80951 in?

ZIP 80951 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 80951 for FY 2027?

The two-bedroom FMR fell 8.6%, from $2,320 in FY 2026 to $2,120 in FY 2027. Since FY 2023 it has risen 0.5%.

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

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