Location: Platte County, WY | Metro: Platte County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP code 82215 is centered around the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR stands at $960, while the Census ACS indicates a market rent of $986. This creates a gap of $26, representing approximately 2.7% of the market rent.
Given that the FMR is lower than the market rent, landlords and small-portfolio investors should be aware of the financial implications when accepting housing vouchers. The difference means that voucher tenants pay a rate that is $26 below the open-market rental price. This discrepancy can lead to reduced profitability, especially considering the additional administrative tasks and potential maintenance costs associated with managing voucher properties.
In ZIP 82215, 27.9% of residents are renters, and the median household income is $137,589. These figures suggest a robust economic environment where non-voucher tenants might be willing to pay closer to the market rate. Therefore, landlords must weigh the benefits of steady rental income from voucher tenants against the possibility of achieving higher yields with market-rate rentals. The decision should also consider the local housing dynamics and the demand for subsidized housing.
Investors should recognize that while voucher programs ensure timely payments and stable occupancy, they also lock in rents at levels that are below what the market could bear. This makes the investment more about securing a reliable cash flow rather than maximizing rental income per unit. In a competitive market environment, the choice to accept Section 8 vouchers should be made with a clear understanding of how it impacts overall portfolio performance.
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.