Location: Albany County, WY | Metro: Albany County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The Section 8 program in ZIP code 82051 operates under the Fair Market Rent (FMR) guidelines set by the U.S. Department of Housing and Urban Development (HUD). For the metro area covering fiscal year 2026, the FMR is $960. This figure represents the payment standard HUD will use to reimburse landlords for renting out units to tenants participating in the Section 8 housing choice voucher program. It's important to note that this is not the rent you'll charge your tenant; it's the maximum amount HUD will pay on behalf of the tenant.
Comparatively, the local market rent in ZIP 82051 is currently listed as N/A, which means there isn't enough data to provide a specific number. However, the 0.0% renter share indicates a very low demand for rentals in this area. This suggests that landlords might find it challenging to attract tenants who do not rely on Section 8 vouchers, given the limited interest in renting properties overall.
Regarding acquisition costs, the data shows N/A, meaning there's insufficient information to determine the average cost of acquiring rental properties in this area. Despite this lack of detail, landlords should still be aware that the property must meet certain criteria to be eligible for the Section 8 program, such as being safe, decent, and sanitary.
Before committing to a Section 8 rental in ZIP 82051, ensure your property's rent does not exceed the $960 FMR. This is crucial because HUD will only cover up to this amount, and any excess must be paid by the tenant directly. If the tenant cannot afford the difference, it could lead to financial difficulties and potential non-payment.
To summarize, the FMR of $960 sets a clear limit on HUD reimbursement, while the low renter share indicates a market where Section 8 vouchers may play a significant role in securing tenants. Due to the lack of detailed local market data, landlords should focus on verifying their property's rent aligns with the FMR to avoid complications.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.