Location: Casper, WY | Metro: Casper, WY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $840 |
| 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 |
1300 is the Fair Market Rent (FMR) for ZIP code 82646 as of fiscal year 2024, indicating the maximum rental assistance payment standard set by HUD for a two-bedroom unit. The absence of specific data on market rent suggests limited availability or reporting of such figures, which can be a concern for landlords looking to benchmark their pricing against government standards. Similarly, the lack of detailed information on median home values implies a less competitive market for homeownership, potentially favoring rental investments. With the renter share percentage not available, it's difficult to gauge the overall demand for rentals in the area, though the presence of a significant FMR figure suggests a notable population reliant on rental assistance. Median income data being unavailable means we cannot directly compare the affordability of renting versus owning in the region, but the FMR provides a useful starting point for setting rental prices. Days on Market (DOM) data being non-existent makes it challenging to assess how quickly properties typically rent out in this area, which could impact cash flow expectations for landlords. The unavailability of the price-cut share percentage indicates that there isn't enough data to determine if landlords frequently need to reduce their asking rents to attract tenants, a scenario that could affect profitability. Given the limited data, focusing on the 1300 FMR is crucial for landlords participating in the Section 8 program, ensuring they align their rental prices with HUD guidelines to maximize their chances of securing long-term, stable tenants.
The verdict for Section 8 participation in ZIP 82646 is positive, contingent upon aligning with the 1300 FMR and understanding local rental dynamics despite the lack of comprehensive market data.
Data Sources: FMR data from HUD (2027).
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.