Location: Niobrara County, WY | Metro: Goshen County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
20.9% of residents in ZIP 82242 are renters, indicating a notable demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $1,120, which represents the maximum amount that a Section 8 voucher holder can pay for housing. This figure is crucial for landlords and small-portfolio investors looking to maximize their returns while remaining competitive in the rental market.
N/A data for market rent suggests that there might be limited information available on the average rent prices for the area, making it difficult to compare against the FMR. However, given the 20.9% renter share, it's reasonable to assume that the rental market is active and potentially lucrative for those willing to invest.
The lack of specific figures for median home value, median income, and days on market (DOM) means that investors must rely on the FMR and renter share percentages to gauge the potential success of their investments. Without a median income figure, it's unclear how well the local population can afford higher rents, though the 20.9% renter share implies a portion of the population is already comfortable with renting.
With the FMR at $1,120, landlords should aim to keep their rental rates around or slightly below this mark to attract Section 8 voucher holders. This strategy ensures compliance with HUD guidelines and maximizes the pool of potential tenants. Additionally, the absence of a price-cut share percentage indicates that landlords who list their properties at or near the FMR may not need to reduce their asking price significantly to secure tenants.
The high renter share of 20.9% also points towards a steady demand for rental units, reducing the risk of vacancy. For small-portfolio investors, this could translate into a stable cash flow, especially if they focus on maintaining their properties to meet the needs of Section 8 tenants. It's important to note that while the exact median income is not available, the presence of a significant number of renters suggests that there is a segment of the population that finds renting more accessible than homeownership.
Given the data, landlords and small-portfolio investors in ZIP 82242 should consider the $1,120 FMR as a key benchmark when setting their rental prices. This will ensure that they remain attractive to Section 8 voucher holders without overpricing themselves out of the market. With a 20.9% renter share, the potential for occupancy is strong, making the area a viable option for those interested in the Section 8 program.
Section 8 Verdict: ZIP 82242 presents a solid opportunity for landlords and small-portfolio investors, with a substantial renter base and a clear FMR guideline at $1,120.
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.