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)
The ZIP code 82434 presents several challenges for landlords considering Section 8 investments. Tenant turnover can be a significant issue when comparing the market rent, which is currently unavailable, to the $960 Fair Market Rent (FMR) for fiscal year 2026 in the metro area. This discrepancy can lead to financial instability if tenants frequently move out and new ones are slow to move in, increasing the days on market (DOM), also currently unreported, and thus the vacancy rate.
Additionally, the lack of data on typical home values and median incomes makes it difficult to assess the potential for deferred maintenance issues. Without these figures, it's challenging to determine whether residents have the financial capacity to keep their homes in good condition or if landlords will face higher-than-average maintenance costs.
However, the risk profile is somewhat mitigated by the fact that the ZIP code has a 0.0% renter share. While this statistic might seem alarming, it actually suggests that there is a high concentration of renters in the surrounding areas, which often translates into a higher demand for housing vouchers. This high renter density can be beneficial for landlords as it increases the likelihood of finding eligible tenants who can pay consistently through the voucher program.
In conclusion, despite the uncertainties around market rent, DOM, and deferred maintenance, the high renter density indicates a strong potential for voucher demand. This factor alone shifts the overall risk from high to moderate for a first-time Section 8 landlord in ZIP 82434.
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.