Location: Albany County, WY | Metro: Albany County, WY
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $350,322 | 0.29% | F |
| 3BR | $1,410 | $544,482 | 0.26% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 82055, Centennial, WY, stands at $990 for the metro area in fiscal year 2026. This figure represents the payment standard set by the U.S. Department of Housing and Urban Development (HUD) for Section 8 rentals. It's important to note that this is not the amount you will receive as rent; it's the maximum amount HUD will pay on behalf of eligible tenants.
To put this into perspective, the local median rent for similar properties is listed as N/A. However, the FMR provides a benchmark for landlords participating in the Section 8 program. If the typical market rent for your property exceeds $990, you might need to consider lowering the rent or improving the property to meet the requirements for the program.
The FMR also gives insight into the demand for rental housing in Centennial. With a renter share of 0.0%, it indicates that there are no other renters currently participating in the Section 8 program in this area. This suggests that if you decide to participate, you could potentially capture a significant portion of the rental market in Centennial, especially among those who qualify for assistance.
If you're looking to acquire a property in this area, the average home value is around $354,880. This is a substantial investment, and understanding the local rental market and the Section 8 payment standards can help you make an informed decision about whether this is a viable option for generating steady income.
Before making the final decision to participate in the Section 8 program with your first rental property in Centennial, verify that your property meets all the necessary quality and safety standards set by HUD. These standards ensure that the living conditions are safe and decent for tenants, and failing to meet them can result in penalties or disqualification from the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.