Location: Cheyenne, WY | Metro: Cheyenne, WY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 82060 in fiscal year 2024 is set at $1130. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent that tenants will pay; rather, it's the benchmark used by the government to determine the subsidy amount.
While the local median rent for ZIP 82060 is listed as N/A, the 0.0% renter share indicates that there is a significant demand for affordable housing in this area. This means that many potential tenants would be looking to secure a rental unit through the Section 8 program.
The acquisition cost for properties in this ZIP code is also listed as N/A, which suggests that detailed market analysis is required to understand the typical price range for properties. However, given the high demand for affordable housing, landlords might find that the steady income provided by the Section 8 program outweighs the risks associated with fluctuating property values.
To put this into perspective, if you own a property in ZIP 82060 and want to participate in the Section 8 program, you should ensure that your property meets all the necessary requirements set by the Housing Authority. The most critical aspect to verify is the condition of your property. It must pass a thorough inspection to meet the Housing Quality Standards (HQS), which are designed to ensure that the rental units are safe and habitable.
In summary, the FMR of $1130 provides a clear guideline for the maximum rent subsidy available, making it easier to calculate your potential income. With a strong demand for affordable housing, participating in the Section 8 program could be a stable investment opportunity. Before proceeding, confirm that your property meets the HQS to avoid any delays in securing a tenant.
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.