Location: Fremont County, WY | Metro: Fremont County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The ZIP code 82516 presents an interesting scenario for both renters and landlords. With a median income of $40,208, households face significant challenges in affording the local market rate for housing, which is currently unavailable. However, the Fair Market Rent (FMR) set at $1,030 for the metro area in fiscal year 2026 provides a clearer picture of what is affordable.
To put this into perspective, consider that the median income figure suggests a monthly disposable income of approximately $3,350 before taxes and necessary expenses. Given this, the FMR of $1,030 is relatively manageable for most households. This indicates that while market rates might be unaffordable, the government-supported rental standards are within reach for many residents.
ZIP 82516 has a rental population of 12.0%, or 36 individuals out of the total 299 population. This low percentage of renters means that landlords will likely face stiff competition when it comes to finding tenants who can pay the FMR. The limited number of renters also implies that the pool of potential cash-paying tenants is small, making voucher-reliant tenants a crucial segment of the market.
The affordability gap in this ZIP code highlights the importance of accepting vouchers. For landlords, this means that relying solely on cash-paying tenants could result in vacancies and lost income. Accepting vouchers ensures a steady stream of income at the FMR, reducing the risk of empty units.
In conclusion, landlords in ZIP 82516 should consider voucher acceptance as a strategic necessity due to the limited number of renters and the financial constraints faced by the average household. While cash payments might offer higher rents, the reality of the local market suggests that focusing on voucher tenants is a safer bet for maintaining occupancy and income stability.
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.