The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Drake, CO 80515's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 80515 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $1,044 to a high of $1,276, with an average of $1,160.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,053, a maximum of $1,287, and an average of $1,170.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,287, peaking at a maximum of $1,573, and averaging at $1,430.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,818, a maximum of $2,222, and an average of $2,020.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,007 to a maximum of $2,453, with an average of $2,230.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Drake, CO 80515 Low Rent (90%) $1,044 $1,053 $1,287 $1,818 $2,007
Average Rent $1,160 $1,170 $1,430 $2,020 $2,230
High Rent(110%) $1,276 $1,287 $1,573 $2,222 $2,453
2023 Drake, CO 80515 Low Rent (90%) $954 $963 $1,206 $1,719 $1,962
Average Rent $1,060 $1,070 $1,340 $1,910 $2,180
High Rent (110%) $1,166 $1,177 $1,474 $2,101 $2,398
2022 Drake, CO 80515 Low Rent (90%) $846 $891 $1,107 $1,566 $1,899
Average Rent $940 $990 $1,230 $1,740 $2,110
High Rent(110%) $1,034 $1,089 $1,353 $1,914 $2,321
2021 Drake, CO 80515 Low Rent (90%) $801 $873 $1,071 $1,539 $1,854
Average Rent $890 $970 $1,190 $1,710 $2,060
High Rent (110%) $979 $1,067 $1,309 $1,881 $2,266
2020 Drake, CO 80515 Low Rent (90%) $729 $837 $1,017 $1,476 $1,791
Average Rent $810 $930 $1,130 $1,640 $1,990
High Rent(110%) $891 $1,023 $1,243 $1,804 $2,189
2019 Drake, CO 80515 Low Rent (90%) $801 $918 $1,125 $1,629 $1,980
Average Rent $890 $1,020 $1,250 $1,810 $2,200
High Rent (110%) $979 $1,122 $1,375 $1,991 $2,420


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