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Gunnison County/Crested Butte/81224

81224

ZIPSAFMR
Gunnison County, CO
Zillow

ZIP Investment Score

20Below average

095130300
BRFMR
Eff. Rent
0 BR$1,460$1,460
1 BR$1,530$1,530
2 BR$1,720$1,720
3 BR$2,380$2,380
4 BR$2,670$2,670
5 BR$3,070Not available
6 BR$3,531Not available
7 BR$4,061Not available
8 BR$4,670Not available

Purchase Price Calculator

Maximum purchase price
$193,675

Cost breakdown

+Likely effective rent$1,720
HUD FMRUsed$1,720
Market rentN/A
Est. payment standardN/A
-Principal and interest-$979
Loan amount$154,940
Down payment$38,735
Rate6.50%
Term30 years
-Operating costs-$541
Property taxes-$194
Insurance-$175
Utilities$0
HOA$0
Management-$172
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,643(71.4% ROI)
Projected value
$208,567
Return breakdown
Property appreciation+$14,892
Loan principal paid down+$5,551
Rental cash flow+$7,200
5-year hold
+$47,350(122.2% ROI)
Projected value
$219,125
Return breakdown
Property appreciation+$25,450
Loan principal paid down+$9,899
Rental cash flow+$12,000
10-year hold
+$101,833(262.9% ROI)
Projected value
$247,920
Return breakdown
Property appreciation+$54,245
Loan principal paid down+$23,588
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 81224 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 81224 (Crested Butte, CO) is $1,720 a month. That is up 8.2% from $1,590 in FY 2026. Crested Butte is in the Gunnison County, CO non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,437. Among 9 ZIP codes in Gunnison County, 81224 has the 3rd-highest two-bedroom rent (county range $1,330–$2,060). The median county two-bedroom FMR in Colorado is $1,375, so ZIP 81224 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 81224
BedroomsFY 2027Change90–110% range
Studio$1,460+20.7%$1,314–$1,606
1BR$1,530+11.7%$1,377–$1,683
2BR$1,720+8.2%$1,548–$1,892
3BR$2,380+7.7%$2,142–$2,618
4BR$2,6700.0%$2,403–$2,937

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 81224
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,460$1,530$1,720$2,380$2,670
FY 2026$1,210$1,370$1,590$2,210$2,670
FY 2025$1,170$1,310$1,610$2,260$2,700
FY 2024area FMR$1,111$1,119$1,470$2,016$2,495
FY 2023area FMR$961$967$1,273$1,721$2,168

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Gunnison County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 81224
81210$1,730+0.6%
81220$1,390−19.2%
81224Current$1,720—
81225$2,060+19.8%
81230$1,330−22.7%
81237$1,440−16.3%
81239$1,440−16.3%
81243$1,330−22.7%
81434$1,590−7.6%

Questions about ZIP 81224 rents

How much will Section 8 pay for a two-bedroom in ZIP 81224?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,437, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,293 to $1,581 a month; under the ZIP-level Small Area FMR of $1,720 it would be $1,548 to $1,892. 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 81224 in?

ZIP 81224 is in the Gunnison County, CO non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,437.

How much did fair market rent change in ZIP 81224 for FY 2027?

The two-bedroom FMR rose 8.2%, from $1,590 in FY 2026 to $1,720 in FY 2027. Since FY 2025 it has risen 6.8%.

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 rentCrested Butte, CO fair market rentCO statewide rentsWhat is SAFMR?Data sources