Section 8 Fair Market Rent (FMR) for ZIP 82637 - 2027

Location: Converse County, WY | Metro: Converse County, WY

Investment Score for ZIP 82637

Monthly Rent (2BR)

$1,050

Median Price (2BR)

$270,726

1% Rule

0.39%

Annual Yield

4.65%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$800
1 Bedroom	$800
2 Bedrooms	$1,050
3 Bedrooms	$1,440
4 Bedrooms	$1,760
5 Bedrooms	$2,042
6 Bedrooms	$2,287
7 Bedrooms	$2,470
8 Bedrooms	$2,594

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,050	$270,726	0.39%	F
3BR	$1,440	$314,131	0.46%	F
4BR	$1,760	$368,160	0.48%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,425

Median Household Income

$80,038

Housing Units

1,921

Renter Percentage

18.0%

Occupancy Rate

84.3%

Renter Occupied

292

The ZIP code 82637, located in Wyoming, offers a unique blend of rural charm and suburban convenience, making it an attractive area for both residents and investors. The region benefits from steady economic growth and a mix of housing options that cater to various demographics.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,070, indicating a strong potential for rental income in the future.
The current market rent, according to the Census ACS, stands at $862, suggesting there's room for rental price increases to align with the projected FMR.
The median home value in the area is $294,354, which reflects a stable real estate market with reasonable property values.
Renters make up 18.0% of the local population, pointing to a significant demand for rental properties but also highlighting that the majority of residents prefer homeownership.
The median income in the area is $80,038, providing insight into the financial health of the local population and their ability to afford higher rents or mortgage payments.

Investors looking to enter the 82637 market should consider the growing rental demand and the potential for rental prices to rise towards the fair market rent levels. While the median home value suggests stability, the relatively low percentage of renters indicates a need to target the right demographic to ensure occupancy rates. The strong median income supports the likelihood of successful rent collection and property appreciation over time. Overall, the ZIP 82637 presents a balanced opportunity for both rental and homeowner investments, with particular emphasis on rental properties that can capitalize on the anticipated increase in fair market rents.

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.