Location: Carbon County, WY | Metro: Albany County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $2,060 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
U.S. Census Bureau data (2024)
Investors considering ZIP 82083 often raise concerns about the feasibility of renting properties to Section 8 participants. Here are three common objections and the data that addresses them.
Objection 1: Will the Fair Market Rent (FMR) of $990 cover the mortgage on a $182,615 home?
The FMR of $990 in ZIP 82083 for fiscal year 2026 is likely insufficient to cover the mortgage on a $182,615 home. Assuming a 30-year fixed-rate mortgage at a typical interest rate of around 4%, the monthly mortgage payment would be approximately $870. This figure does not include property taxes, insurance, maintenance, and other expenses. Therefore, while the FMR might help cover the mortgage, it will not fully account for the total cost of ownership.
Objection 2: Is there enough renter demand at 47.6%?
A renter occupancy rate of 47.6% indicates a moderate level of demand in ZIP 82083. However, this percentage alone does not provide a complete picture. To fully assess demand, one must consider the vacancy rate and the average number of renters per household. The data does not specify these factors, but a 47.6% renter occupancy rate suggests a competitive market, which could be advantageous if the property is well-maintained and priced appropriately.
Objection 3: Will vouchers keep pace with $2,059 market rents?
The FMR of $990 is significantly lower than the market rent of $2,059 in ZIP 82083. While vouchers are designed to help low-income families afford housing, they may not cover the full market rent in this area. The 110% payment standard for FMRs is typically $1,089, which still falls short of the market rent. Investors should be prepared for potential gaps between voucher payments and market rents, which may need to be subsidized by the landlord.
In summary, while ZIP 82083 presents opportunities for Section 8 investments, the data highlights challenges such as the gap between FMRs and market rents, and the necessity for careful financial planning to ensure profitability. The renter occupancy rate suggests a competitive market, but additional research into vacancy rates and household composition is recommended for a comprehensive analysis.
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.