Location: Washakie County, WY | Metro: Big Horn 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 | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $790 | $134,547 | 0.59% | F |
| 2BR | $1,000 | $179,894 | 0.56% | F |
| 3BR | $1,380 | $269,873 | 0.51% | F |
| 4BR | $1,650 | $300,267 | 0.55% | F |
| 5BR | $1,914 | $342,463 | 0.56% | F |
U.S. Census Bureau data (2024)
The ZIP code 82401, located in Worland, WY, within the Washakie County, WY metro area, has specific characteristics that position it distinctly within its broader market context. With a Fair Market Rent (FMR) of $960 for fiscal year 2026, it aligns closely with the metro average. However, its market rent at $721 is notably lower than the FMR, suggesting a potential value pocket where rents are undervalued compared to what is considered fair market.
The home value in ZIP 82401 stands at $254,822. This figure is likely below the county-wide average, which could indicate a less expensive residential area within the metro. The renter share of 24.5% is relatively low but still significant, pointing towards a modest demand for rental properties. This combination of below-average home values and a moderate renter share does not necessarily signal a Section 8 sweet spot, as typically such areas would have a higher renter share.
To determine if 82401 is a value pocket, a mid-tier neighborhood, or a premium sub-market within the Washakie County, WY metro, we must consider the overall trends. Given the lower market rent compared to the FMR and the below-metro average home values, it suggests that 82401 leans more towards being a value pocket. This means that it offers more affordable housing options relative to the metro area, which can be attractive for both tenants seeking lower costs and landlords looking to offer competitive rental rates.
Landlords and small-portfolio investors should take note of the disparity between the FMR and the actual market rent. This gap indicates an opportunity for those who can provide quality rentals at or slightly above the current market rate to capture a growing segment of the market without significantly increasing their investment risk.
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.