Location: Casper, WY | Metro: Casper, WY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
The ZIP code 82605 in Casper County, Wyoming, presents a unique set of circumstances that landlords and small-portfolio investors should consider. The area lacks detailed demographic data, including the number of residents, percentage of renters, median income, and median home value. However, the absence of specific figures does not negate the importance of understanding the economic landscape.
Moving into the specifics of Section 8 housing, the Fair Market Rent (FMR) for ZIP 82605 is set at $1070 for fiscal year 2024. This figure is crucial for landlords who wish to participate in the Section 8 program, as it determines the maximum rent that can be charged for a unit to be eligible. Given the lack of comparative market data, it's essential to focus on the FMR as a reliable benchmark for rental rates in subsidized housing.
The voucher economics in ZIP 82605 are straightforward: landlords can expect to receive a payment from the housing authority up to $1070 per month, depending on the size of the unit and the tenant's contribution towards rent. For landlords, this provides a stable source of income, as long as they comply with the program's requirements. Tenants' contributions are typically based on their income, ensuring that they pay no more than 30% of their adjusted income towards rent.
While the data signature for ZIP 82605 is sparse, the presence of a defined FMR suggests a level of stability in the local rental market. The Section 8 program aims to provide affordable housing options, and the established FMR indicates a consistent approach to achieving that goal. Landlords and investors should monitor any changes in the FMR and local market conditions to assess the overall stability or transition of the area.
In conclusion, despite the limited demographic data available, ZIP 82605 offers a clear economic framework through its defined FMR. This stability can be leveraged by landlords and small-portfolio investors to ensure steady returns while providing affordable housing options to tenants. Participation in the Section 8 program can be a strategic move, given the reliable rental figures.
Data Sources: FMR data from HUD (2027).
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.