Location: Converse County, WY | Metro: Casper, WY MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $275,615 | 0.42% | F |
| 3BR | $1,590 | $366,783 | 0.43% | F |
| 4BR | $1,920 | $423,491 | 0.45% | F |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 landlord in ZIP 82636, Evansville, WY, are significant and must be carefully considered. Tenant turnover is a primary concern, as the market rent stands at $1,004, while the Fair Market Rent (FMR) for FY 2024 is $1,060. This indicates that tenants may struggle to cover the higher rent, leading to frequent moves and increased vacancy periods. In fact, the days on market (DOM) for vacant properties is not available, which suggests a lack of consistent data and potentially volatile rental conditions.
Deferred maintenance is another critical issue. The typical home value in the area is $318,748, while the median household income is only $86,638. This substantial gap between home values and incomes implies that many homeowners, including potential landlords, might not have the financial resources to keep their properties well-maintained. A poorly maintained property can lead to higher maintenance costs, lower occupancy rates, and potential legal issues.
However, there are mitigating factors that make ZIP 82636 an attractive location for Section 8 investments. The renter share of the population is 23.7%, which is relatively high. High renter density typically translates into a greater demand for rental housing, including units covered by Section 8 vouchers. This demand can help stabilize the rental market and reduce the likelihood of extended vacancy periods.
In summary, despite the challenges posed by tenant turnover, uncertain vacancy exposure, and the risk of deferred maintenance, the high renter share in ZIP 82636 presents opportunities that can offset these risks. For a first-time Section 8 landlord, the overall risk level is moderate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.