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

Colorado Springs, CO 80902'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 80902 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 $1,440 to a high of $1,760, with an average of $1,600.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,701, a maximum of $2,079, and an average of $1,890.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $2,097, peaking at a maximum of $2,563, and averaging at $2,330.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,952, a maximum of $3,608, and an average of $3,280.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $3,474 to a maximum of $4,246, with an average of $3,860.

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 Colorado Springs, CO 80902 Low Rent (90%) $1,440 $1,701 $2,097 $2,952 $3,474
Average Rent $1,600 $1,890 $2,330 $3,280 $3,860
High Rent(110%) $1,760 $2,079 $2,563 $3,608 $4,246
2023 Colorado Springs, CO 80902 Low Rent (90%) $1,269 $1,467 $1,845 $2,619 $3,141
Average Rent $1,410 $1,630 $2,050 $2,910 $3,490
High Rent (110%) $1,551 $1,793 $2,255 $3,201 $3,839
2022 Colorado Springs, CO 80902 Low Rent (90%) $1,098 $1,287 $1,620 $2,304 $2,772
Average Rent $1,220 $1,430 $1,800 $2,560 $3,080
High Rent(110%) $1,342 $1,573 $1,980 $2,816 $3,388
2021 Colorado Springs, CO 80902 Low Rent (90%) $990 $1,170 $1,485 $2,124 $2,574
Average Rent $1,100 $1,300 $1,650 $2,360 $2,860
High Rent (110%) $1,210 $1,430 $1,815 $2,596 $3,146
2020 Colorado Springs, CO 80902 Low Rent (90%) $918 $1,107 $1,404 $2,025 $2,466
Average Rent $1,020 $1,230 $1,560 $2,250 $2,740
High Rent(110%) $1,122 $1,353 $1,716 $2,475 $3,014
2019 Colorado Springs, CO 80902 Low Rent (90%) $846 $1,026 $1,314 $1,899 $2,304
Average Rent $940 $1,140 $1,460 $2,110 $2,560
High Rent (110%) $1,034 $1,254 $1,606 $2,321 $2,816


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