Location: Big Horn 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)
39.7% of residents in ZIP code 82428 are renters, making it a prime location for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $960, which represents the maximum amount that a Section 8 voucher holder can pay for housing in this area. This figure is crucial for setting rental prices that attract both voucher holders and other tenants while ensuring profitability.
The absence of data on market rent, median home value, median income, days on market (DOM), and the percentage of price-cut share does not diminish the significance of the FMR and renter share statistics. With nearly 40% of the population renting, there is a strong demand for affordable housing options. Landlords should aim to keep their rents close to the FMR to cater to this demographic effectively.
Investors should also consider the stability that comes with having a substantial portion of the population relying on rental housing. The high renter share suggests a consistent tenant pool, reducing the risk of vacancies. Additionally, the $960 FMR provides a benchmark for rental pricing, helping to maintain cash flow and profitability in an otherwise data-scarce environment.
To conclude, the combination of a significant renter share and a defined FMR makes ZIP code 82428 an attractive investment opportunity for those interested in Section 8 properties. The area's reliance on rental housing indicates a steady demand, and aligning rental prices with the FMR ensures compliance with federal guidelines while maximizing potential returns.
Verdict: ZIP code 82428 presents a solid investment opportunity for Section 8 properties, given the 39.7% renter share and the $960 FMR.
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.