Location: Big Horn County, WY | Metro: Big Horn County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 82441 reveals two distinct scenarios based on the available data. The first scenario involves using the Fair Market Rent (FMR) for a 2-bedroom unit, which is set at $1,020 annually for fiscal year 2026. Given the median home value of $430,565, this annual rent translates into an implied gross yield of approximately 2.37%. This calculation is derived by dividing the annual rent ($1,020) by the median home value ($430,565).
The second scenario would involve market rent rates if they were available; however, the data provided does not specify a market rent figure for ZIP 82441. Therefore, we cannot calculate a precise gross yield for this scenario. In the absence of market rent data, the FMR-based yield remains our only concrete point of reference.
The 21.2% renter density in ZIP 82441 suggests that while there is a significant portion of homeownership, a considerable number of residents still rely on rental housing. This statistic can influence the demand for Section 8 properties, potentially making them more attractive to tenants who qualify for the program.
The N/A-day Days on Market (DOM) indicates incomplete data regarding how quickly rental properties are typically leased in this area. A lower DOM generally signals higher demand and quicker turnover, which could be beneficial for landlords participating in the Section 8 program. However, without specific DOM figures, it's challenging to assess the speed at which units might be filled.
Given the limited market rent data, the FMR-based gross yield of 2.37% offers a reliable benchmark for potential Section 8 investments in ZIP 82441. Landlords should consider this yield alongside other investment opportunities and their own financial goals. While the yield may appear modest, the stability provided by government-backed rental payments can offset risks associated with tenant turnover and maintenance 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.