Location: Niobrara County, WY | Metro: Converse County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 82224 are governed by the Specific Area Fair Market Rent (SAFMR) which for a two-bedroom apartment is set at $960 per month for the fiscal year 2026. This figure represents the maximum amount that the government will pay to landlords who participate in the program for a unit of this size in this specific ZIP code. It's important to note that the local market rent data is currently unavailable, which means we can't directly compare the SAFMR to what tenants might typically pay outside of the voucher system.
A Section 8 voucher operates under a formula where the tenant is responsible for paying 30% of their adjusted income towards rent, while the government covers the difference between the tenant's payment and the SAFMR. For example, if a tenant has an adjusted monthly income of $1,000, they would be expected to contribute $300 towards the rent. In this scenario, the government would reimburse the landlord $660 to meet the total SAFMR of $960.
In addition to the base rent, the voucher also includes allowances for utilities. These allowances vary based on the region and the type of unit but are designed to cover a reasonable estimate of utility costs. For ZIP 82224, let's assume the utility allowance for a two-bedroom apartment is around $150 per month. This means the total reimbursement to the landlord, including the utility allowance, would be $810 ($660 for rent and $150 for utilities).
To break it down further, the landlord receives the tenant's contribution of $300 plus the government's reimbursement of $660, totaling $960, which matches the SAFMR for a two-bedroom unit in ZIP 82224. However, the actual reimbursement to the landlord, considering the utility allowance, is $810. This implies that if the landlord charges the full SAFMR of $960, there would be a reimbursement gap of $150 per month, meaning the landlord would need to cover the remaining cost of utilities or other expenses not covered by the voucher.
Alternatively, if the landlord charges less than the SAFMR, the reimbursement gap would be smaller, or potentially, if the landlord charges below the SAFMR and the tenant's contribution plus the utility allowance exceed the rent charged, there could be a surplus for the landlord. In ZIP 82224, given the SAFMR and assuming a utility allowance of $150, landlords should anticipate a reimbursement gap of $150 per month for a two-bedroom unit when charging the full SAFMR. This gap must be accounted for in the landlord's budgeting and financial planning.
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.