Location: Platte County, WY | Metro: Niobrara 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 ZIP code 82227 represents a niche market for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 363, it's important to note that only 19.0% of residents are renters, indicating a relatively small pool of potential Section 8 tenants compared to other areas. However, the median household income of $31,827 suggests a significant portion of the population could be eligible for housing assistance.
The typical market rent of $765 is a critical figure when considering the financial dynamics of this area. This amount constitutes approximately 24% of the median household income, which is a substantial portion. The Fair Market Rent (FMR) for the metro area, set at $960 for fiscal year 2026, provides an upper benchmark for rental rates that can still qualify for federal housing assistance programs. Given the discrepancy between the typical market rent and the FMR, there is likely a strong demand for vouchers in this ZIP code to bridge the affordability gap.
To contextualize further, let's compare these figures directly. At $765, the average rent is about 80% of the FMR. This means that while rents are lower than the FMR, they still consume a considerable share of the median income. For landlords, this implies a need to balance rental rates that are both attractive to voucher holders and profitable enough to maintain property investment viability.
A landlord in ZIP 82227 should anticipate a tenant pool primarily composed of low-income individuals who are reliant on government subsidies to afford housing. These tenants will likely include families with children, elderly individuals, and those with disabilities, all groups commonly served by the Section 8 program. It's crucial to understand the eligibility criteria for these vouchers, as well as the administrative processes involved in accepting them, to effectively serve this market segment.
In conclusion, while ZIP 82227 isn't densely populated with renters, the combination of low median income and relatively high market rents makes it a viable area for Section 8 properties. Landlords should prepare for a tenant base that heavily relies on housing vouchers to meet their living expenses, ensuring they have the necessary systems in place to handle subsidized tenancy efficiently.
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.