Location: Cheyenne, WY | Metro: Cheyenne, WY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
The ZIP code 82003 is located in Cheyenne, Wyoming, and represents a small, densely populated urban neighborhood. Unfortunately, the specific demographic details such as population, percentage of renters, median income, and median home value are not available for this particular ZIP code.
Moving into the economic landscape, the Fair Market Rent (FMR) for ZIP code 82003 in fiscal year 2024 is set at $1160. This figure is crucial for Section 8 landlords and investors, as it dictates the maximum rental amount that can be charged under the voucher program. While the exact market rent for this area is not specified, it can be inferred that the FMR is designed to reflect the local rental market conditions.
Given the limited availability of data, it is challenging to provide a definitive analysis on whether ZIP code 82003 is better suited for a hands-off voucher operator or a hands-on value-add buyer. However, the fact that the FMR is established at $1160 suggests that the area has a stable rental market, which could be favorable for hands-off operators looking for consistent cash flow. For hands-on buyers interested in improving property values and potentially increasing rents above the FMR, additional research into the neighborhood’s potential for growth and development would be necessary.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.