Location: Converse County, WY | Metro: Converse County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The market in ZIP code 82229, characterized by a Fair Market Rent (FMR) of $990 for the fiscal year 2026, stands out due to the absence of recent market rent data, indicating a lack of current activity that could be used to gauge immediate supply and demand dynamics. The FMR, set by HUD, represents the maximum rent that low-income families should pay, suggesting that this area is currently under federal scrutiny for affordable housing needs.
The median home value data being unavailable points to either a very small sample size or an unusual real estate landscape, possibly dominated by rural or less developed areas where traditional metrics like home values might not fully capture the market's complexity. Similarly, the lack of data on the percentage of price-cut shares and days on market (DOM) leaves gaps in understanding how quickly properties sell and at what price adjustments, if any, are made.
A striking feature of this market is the reported 0.0% renter share. This statistic suggests that the majority of households in ZIP 82229 are owner-occupied, which could imply a strong preference for homeownership over renting. However, it also raises questions about the availability and affordability of rental units, potentially signaling a market where the demand for rentals is so low that it does not significantly impact the overall housing pressure.
In the context of Section 8 analysis, the dynamics of ZIP 82229 reveal a market where the federal government is setting the terms for affordable housing through the FMR, rather than the local market forces. Landlords and small-portfolio investors should be aware that the lack of detailed market rent data could mean they are operating in a niche market, where the demand for rental properties is limited and may not align with broader national trends.
The implications for long-term housing pressure are significant. With virtually no renters in the area, there is little immediate pressure to increase the number of rental units, which could lead to a continued focus on homeownership. This scenario presents both opportunities and challenges for investors looking to enter the market. Opportunities arise from the potential stability and lower competition in the rental sector, while challenges include navigating the complexities of a market heavily influenced by federal guidelines and potentially lower liquidity due to the scarcity of rental properties.
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.