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Mesa County/Grand Junction/81503

81503

ZIPSAFMR
Mesa County, CO
Zillow

ZIP Investment Score

61Below average

095130300
BRFMR
Eff. Rent
0 BR$830$910
1 BR$940$1,030
2 BR$1,190$1,240
3 BR$1,650$1,820
4 BR$1,990$2,070
5 BR$2,289Not available
6 BR$2,632Not available
7 BR$3,027Not available
8 BR$3,481Not available

Purchase Price Calculator

Maximum purchase price
$122,347

Cost breakdown

+Likely effective rent$1,240
HUD FMR$1,190
Market rent$1,260
Est. payment standard (104%)Used$1,240
-Principal and interest-$619
Loan amount$97,878
Down payment$24,469
Rate6.50%
Term30 years
-Operating costs-$421
Property taxes-$122
Insurance-$175
Utilities$0
HOA$0
Management-$124
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,114(82.2% ROI)
Projected value
$131,754
Return breakdown
Property appreciation+$9,407
Loan principal paid down+$3,507
Rental cash flow+$7,200
5-year hold
+$34,331(140.3% ROI)
Projected value
$138,424
Return breakdown
Property appreciation+$16,077
Loan principal paid down+$6,253
Rental cash flow+$12,000
10-year hold
+$73,168(299.0% ROI)
Projected value
$156,615
Return breakdown
Property appreciation+$34,268
Loan principal paid down+$14,901
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.71
1 BR
0.75
2 BR
0.94
3 BR
0.78
4 BR
0.94
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 81503 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 81503 (Grand Junction, CO) is $1,190 a month. That is down 2.5% from $1,220 in FY 2026. Grand Junction is in the Grand Junction, CO MSA. 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 metro-wide two-bedroom FMR of $1,282. Among 19 ZIP codes in Mesa County, 81503 has the 17th-highest two-bedroom rent (county range $1,140–$1,750). The median county two-bedroom FMR in Colorado is $1,375, so ZIP 81503 is 13% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 81503
BedroomsFY 2027Change90–110% range
Studio$830−3.5%$747–$913
1BR$940−2.1%$846–$1,034
2BR$1,190−2.5%$1,071–$1,309
3BR$1,650−2.9%$1,485–$1,815
4BR$1,990−2.9%$1,791–$2,189

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 81503
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$830$940$1,190$1,650$1,990
FY 2026$860$960$1,220$1,700$2,050
FY 2025$880$970$1,250$1,750$2,100
FY 2024$760$860$1,120$1,580$1,900
FY 2023$720$820$1,080$1,530$1,840

Two-bedroom rent in nearby Mesa County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 81503
81501$1,260+5.9%
81502$1,280+7.6%
81503Current$1,190—
81504$1,540+29.4%
81505$1,590+33.6%
81506$1,310+10.1%
81507$1,750+47.1%
81520$1,140−4.2%
81521$1,610+35.3%
81522$1,280+7.6%
81523$1,640+37.8%
81524$1,510+26.9%

Questions about ZIP 81503 rents

How much will Section 8 pay for a two-bedroom in ZIP 81503?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,282, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,154 to $1,410 a month; under the ZIP-level Small Area FMR of $1,190 it would be $1,071 to $1,309. 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 81503 in?

ZIP 81503 is in the Grand Junction, CO MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,282.

How much did fair market rent change in ZIP 81503 for FY 2027?

The two-bedroom FMR fell 2.5%, from $1,220 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 10.2%.

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

County fair market rentGrand Junction, CO fair market rentCO statewide rentsWhat is SAFMR?Data sources