Location: Platte 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 | $780 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $199,455 | 0.5% | F |
| 3BR | $1,350 | $287,152 | 0.47% | F |
| 4BR | $1,650 | $345,310 | 0.48% | F |
U.S. Census Bureau data (2024)
The market in ZIP 82201, encompassing Wheatland, Wyoming, exhibits signs of stability with an upward trajectory. The Fair Market Rent (FMR) set at $960 for the fiscal year 2026 indicates a higher benchmark for rental values compared to the current market rent of $749, based on Census ACS data. This suggests that there's room for growth in rental prices, as they currently fall below the FMR threshold.
A low price-cut share of 0.1% points to a robust seller's market, where homes are selling close to their asking prices without significant reductions. This implies that demand is strong relative to supply, as buyers are willing to meet the listed prices without much negotiation. The median home value of $283,177 reflects a modest valuation, which can be attractive to both first-time homebuyers and investors looking for affordable entry points.
The 26.1% renter share provides insight into the long-term housing dynamics. A substantial portion of the population renting rather than owning suggests ongoing housing pressure, particularly for those who might find it challenging to enter the homeownership market due to affordability issues. This dynamic supports a steady demand for rental properties, indicating that the investment in rental units could be a sound strategy.
In summary, ZIP 82201 appears to be a market where demand is likely outpacing supply, evidenced by the low price-cut share and the potential for rental prices to rise towards the FMR. The significant renter share underscores the need for continued investment in rental properties, offering a promising opportunity for landlords and small-portfolio investors.
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.