The economic benefits to a random sample of Fort Collins residents were estimated using a simulated market method recommended for use by federal agencies including the U.S. Army Corps of Engineers. The mail survey asked households if they would pay to avoid a 50% reduction in peak spring and summer flows. Slightly more than two-thirds of respondents thought such a reduction in flows was a very bad change, with an additional 15% stating it was somewhat a bad change. Thus over 80% of residents think the 50% reduction in flows is a bad change. Overall, this analysis indicates a substantial economic value to visiting and non-visiting Fort Collins households to maintain current peak spring and summer flows in the Poudre River. It appears the value of these instream flows to Fort Collins residents is of the same magnitude as the market value of the water in alternative uses.