Location: Johnson County, WY | Metro: Casper, WY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
U.S. Census Bureau data (2024)
ZIP 82639, located in Johnson County, WY, is best suited as an appreciation play within a Section 8 portfolio strategy. The area's median home value stands at $436,326, which is higher than the median home value reported in other sources, indicating potential for property value growth.
The Family Monthly Rent (FMR) for ZIP 82639 in fiscal year 2024 is set at $1,240, while the market rent is $1,107. This means that properties leased under Section 8 can command a premium of $133 per month over the local market rate, making them financially attractive for landlords. However, the key factor in positioning ZIP 82639 as an appreciation play lies in its limited supply of homes for sale and low competition among sellers, as evidenced by the minimal number of homes listed on real estate platforms such as Zillow and Trulia.
ZIP 82639 has a renter share of 5.6%, indicating a relatively low percentage of renters compared to homeowners. Additionally, the median income in the area is $72,112, which is above the national average and suggests a stable economic base. These factors contribute to the potential for long-term capital appreciation, as the demand for housing may increase due to the area's desirability and economic stability.
While ZIP 82639 does offer a positive cash flow spread between the FMR and market rent, the lack of price-cut share and days on market (DOM) data indicates a strong seller's market. This supports the classification of ZIP 82639 as an appreciation play rather than a cash-flow anchor or diversifier. Landlords and small-portfolio investors should consider the potential for property value growth when including ZIP 82639 in their Section 8 portfolios.
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.