80488 Steamboat Springs, CO Fair Market Rent

What the FMR for ZIP 80488 actually means

HUD publishes ZIP-level Small Area FMRs in designated metros. Our load has no SAFMR row for ZIP 80488, so we show the FMR-area schedule for Routt: $1,845 1-bedroom, studio $1,726, 2-bedroom $2,022, 3-bedroom $2,424, 4-bedroom $3,170. Other ZIPs in the same FMR area share this schedule until a SAFMR row is available. These are 40th-percentile gross rents, not live asking rents.

Without SAFMR for this ZIP, every ZIP mapped to Routt's FMR area shares the same baseline figures even when street-level market rents differ. Against the national benchmark the 1-bedroom FMR-area figure is 92% above the US average of $959, and 59% above the CO state average of $1,161. Year-over-year, the 1-bedroom moved up13.9% from FY 2025 ($1,620) to FY 2026.

For budgeting, the 30% affordability rule says rent should not exceed 30% of gross household income. At the FY 2026 1-bedroom FMR of $1,845, that implies a household income of $73,800 per year (about $6,150/month) to avoid being cost-burdened, a 2-bedroom at $2,022 lifts that threshold higher still. ZIP 80488 has a population of 157 residents, so the gap between these FMR figures and local wages shapes how many households qualify as rent-burdened (paying more than 30% of income) or severely burdened (above 50%).