Location: Park County, WY | Metro: Big Horn County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 82411 is nuanced, particularly when considering the financial capabilities of local households against market realities. Households here earn a median income of $103,958. However, without specific market rate data, it's challenging to provide a direct comparison to this income figure. What we do know is that the Fair Market Rent (FMR) as set by HUD for the metro area for fiscal year 2026 is $960. This FMR represents the amount Section 8 vouchers will cover for rent.
To frame this from a renter's perspective, let's consider the affordability gap. A household earning the median income would typically allocate around 30% of their income towards housing costs, which equates to approximately $2,600 per month. Given the voucher payment standard of $960, this leaves a significant shortfall for many households who rely on Section 8 assistance. The lack of precise market rate data means we cannot definitively state whether the gap is closing or widening, but the disparity between $960 and the potential housing budget suggests a substantial challenge for voucher recipients.
With only 19.5% of the 520-person population being renters, the competition among landlords for tenants is relatively low. However, this also implies a smaller pool of potential cash-paying renters who might be able to afford higher rents. Landlords must weigh the benefits of accepting Section 8 vouchers—such as guaranteed rent payments and a stable tenant base—against the challenges posed by the voucher payment standard being below what many units might command in the open market.
The takeaway for landlords is clear: while there is less competition for tenants, the reliance on Section 8 vouchers means aligning with HUD standards for rent. Accepting vouchers can ensure consistent income and reduce vacancy rates, but it also means setting rents at or below the FMR of $960. For those looking to maximize returns, focusing on attracting cash-paying tenants who can afford higher rents may be more profitable, though this strategy requires careful consideration of the limited rental market size.
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.