Location: Carbon County, WY | Metro: Carbon County, WY
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,490 | $337,485 | 0.44% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 82331 in the Carbon County, WY metro area reveals key insights into rental and housing trends. The HUD Fair Market Rent (FMR) for the area is set at $980 per month for the fiscal year 2026. This figure is notably lower than the market rent reported by the Census ACS, which stands at $1,227 per month. As such, landlords participating in the Section 8 program will experience marginal cash flow at the HUD FMR, unless they focus on premium units that command higher rents.
To further analyze the investment potential, consider the median home value in ZIP 82331, which is $296,606. Using this data point, we can calculate a rent-to-price ratio. With an average monthly rent of $1,227, the annual rent would be approximately $14,724. Dividing this by the median home value yields a rent-to-price ratio of about 5%, indicating that rental income is relatively low compared to the cost of property ownership. This suggests that appreciation rather than rental income might be the primary driver of investment returns in this area.
The dynamics between renting and buying also play a role in investment decisions. However, the data indicates that the median days on market (DOM) and the percentage of price cuts are not applicable (N/A), suggesting that the local real estate market is stable with few listings being actively reduced in price. This stability implies that there is little fluctuation in the housing market, which could benefit long-term investors seeking steady, appreciating assets.
In conclusion, while cash flow from voucher tenants at the HUD FMR is marginal, the strong appreciation potential and market stability make ZIP 82331 a compelling investment target for Section 8 investors. The primary angle for investors should be the expectation of property value appreciation over time, given the stable market conditions and the disparity between FMR and market rents.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.