Location: Banner County, NE | Metro: Cheyenne, WY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
U.S. Census Bureau data (2024)
The potential pitfalls of investing in ZIP 82082 under Section 8 include significant tenant turnover due to the stark difference between the market rent of $715 and the Fair Market Rent (FMR) of $1330 for FY 2024. This disparity can lead to frequent vacancies, increasing the landlord's exposure to periods without rental income. The median days on market (DOM) being N/A suggests that there might be inefficiencies in the local real estate market, which can exacerbate vacancy issues. Additionally, the typical home value of $327,708 paired with a median income of $69,347 indicates that many properties may require substantial maintenance, but the income levels may not support the costs of such improvements.
However, these risks are somewhat mitigated by the high concentration of renters in the area, represented by a 17.5% renter share. High renter density often translates into a higher demand for housing vouchers, which can stabilize occupancy rates and provide a steady stream of income. The robust demand for rental units can also help landlords manage vacancies more effectively.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.