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 |
U.S. Census Bureau data (2024)
The ZIP code 82638 represents a unique area with a total population of 116 residents. Notably, there are no reported renters within this community, indicating that it is predominantly composed of homeowners. The absence of data regarding median income and median home value suggests that this could be a specialized or less densely populated region, possibly rural or with a distinct demographic profile.
Turning to the economic landscape, the Fair Market Rent (FMR) for ZIP 82638 in fiscal year 2024 is set at $1300. This figure serves as a benchmark for rental costs within the area, although specific market rent data is not available. The FMR is determined by the U.S. Department of Housing and Urban Development (HUD) and reflects the estimated rent for a modest apartment in a given area. Given the lack of market rent data, the FMR provides a critical reference point for understanding the potential rental income in the area.
When considering investment strategies, ZIP 82638 appears to be better suited for a hands-on value-add buyer rather than a hands-off voucher operator. The absence of renters indicates that the Section 8 housing program has minimal presence in the area, which would make it challenging for voucher operators to find properties to manage. However, for investors willing to engage actively in improving property values and potentially converting homes into rental units, the area offers an opportunity to create demand where none currently exists. This approach would require a thorough understanding of the local market dynamics, including potential barriers to entry such as zoning laws and community preferences, but it could yield significant returns for those who can navigate these challenges effectively.
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.