Location: Carbon County, WY | Metro: Casper, WY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The investment landscape in ZIP 82620 for Section 8 landlords presents several challenges that must be carefully considered. Tenant turnover is a significant risk factor, especially when comparing the local market rent to the Fair Market Rent (FMR) of $1070 for FY 2024. If the market rent is lower than the FMR, it can lead to higher turnover rates as tenants seek out more affordable options. Conversely, if the market rent exceeds the FMR, landlords might struggle to find eligible tenants.
Vacancy exposure is another concern, particularly due to the lack of data on the days on market (DOM). This uncertainty can result in extended periods where units remain unoccupied, leading to lost rental income. Landlords need to have a solid understanding of the local rental market to mitigate this risk effectively.
Deferred maintenance is a critical issue in ZIP 82620, given the absence of data on typical home values and median incomes. Without these figures, it's challenging to assess the financial capacity of landlords to maintain their properties adequately. Poorly maintained properties can lead to increased costs and potential legal issues, affecting the overall profitability of the investment.
However, these risks are balanced by a high renter share of 46.7%, which typically indicates strong demand for rental properties, including those accepting Section 8 vouchers. A dense rental market can provide stability through consistent tenant interest, reducing the likelihood of prolonged vacancies and ensuring steady cash flow.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.