Location: Park County, WY | Metro: Big Horn County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
46.2% of residents in ZIP code 82423 are renters, indicating a significant demand for rental properties in the area. $686 is the reported market rent based on Census ACS data, which suggests that landlords can expect this average rent per month from tenants. However, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960, providing a benchmark for rental pricing that aligns with HUD guidelines. The absence of data for median home value, median income, days on market (DOM), and the percentage of price-cut share means that landlords must rely heavily on rental market dynamics rather than sales market trends to make informed decisions. Given the disparity between the market rent and the FMR, there is an opportunity for landlords to potentially increase rents closer to the HUD guideline without alienating tenants. This ZIP code's high renter share also supports the idea that rental properties will continue to be in demand. For those considering Section 8 participation, the FMR of $960 provides a clear ceiling for allowable rents under the program. In conclusion, landlords in ZIP 82423 should consider the potential benefits of participating in Section 8, given the high proportion of renters and the support it offers for maintaining stable rental income.
Section 8 Verdict: Participation is advisable due to the high renter share and supportive FMR guidance.
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.