Location: Big Horn County, WY | Metro: Big Horn County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 82422 are straightforward. For a two-bedroom apartment, the SAFMR (Section 8 Area Fair Market Rent) for fiscal year 2026 is set at $970. This figure represents the maximum amount the federal government will reimburse landlords under the Housing Choice Voucher program for this specific ZIP code.
To understand what this means for landlords, let's break down the components of the voucher payment. The tenant is responsible for paying 30% of their adjusted income toward rent. On average, this comes out to around $300 per month for a two-bedroom unit, though it can vary based on individual circumstances. Additionally, there is a utility allowance, which typically ranges between $200 and $250 per month, depending on the size and location of the property.
The total reimbursement a landlord receives from the government and the tenant is calculated as follows: the government pays up to the SAFMR limit, and the tenant contributes their share. If the tenant's portion is $300 and the utility allowance is $225, then the total reimbursement would be $970 (government) + $300 (tenant) - $225 (utility allowance), equating to $1,045. However, this calculation assumes the tenant's portion and utility allowance add up to the exact SAFMR limit. In reality, the reimbursement may be less if the tenant's contribution plus the utility allowance does not reach $970.
Given that the local market rent data is currently unavailable, we must rely on the SAFMR to gauge the rental landscape. Landlords should note that the SAFMR is a cap, meaning they cannot charge more than $970 for a two-bedroom apartment to receive full reimbursement from the government. Any amount above this must be paid directly by the tenant, which could lead to financial strain and potential eviction risks.
In summary, the typical reimbursement gap or surplus for a two-bedroom voucher in ZIP 82422 is determined by comparing the SAFMR of $970 to the tenant's contribution and utility allowance. Given the average figures, landlords can expect a reimbursement slightly above the SAFMR, but this surplus is modest and subject to variation based on individual tenant incomes and utility costs.
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.