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)
0.0% of the housing units in ZIP 82648 are occupied by renters, indicating a predominantly owner-occupied market. This statistic underscores the limited demand for rental properties in the area, which could be a significant consideration for landlords and small-portfolio investors looking to enter or expand their presence here. Given the $1070 Fair Market Rent (FMR) set for the fiscal year 2024, it's important to note that there is no reported market rent for the area, suggesting that the FMR may serve as a benchmark for setting rental rates. The absence of data on median home value, median income, days on market (DOM), and the percentage of price-cut share further highlights the scarcity of rental properties and the challenges in assessing the broader real estate market dynamics. In the context of Section 8 eligibility, the lack of available market rent data means that landlords will have to rely on the FMR to determine if their properties qualify under the program. However, the low renter share suggests that even if properties meet the criteria, the pool of potential tenants might be smaller compared to areas with higher rental activity. The fiscal year 2024 FMR of $1070 sets a clear standard for rental costs, but without market rent data, it's challenging to gauge how competitive this figure is in the local rental market. The absence of significant rental activity in ZIP 82648 implies that landlords might face difficulties in finding eligible Section 8 tenants who can afford the FMR rate. Moreover, the lack of detailed income data makes it hard to predict the financial stability of potential tenants. Despite these uncertainties, the clear FMR guideline provides a straightforward reference point for rental pricing. The low renter share also points to a potentially less volatile rental market, which could offer some stability for landlords. However, the decision to participate in the Section 8 program should be made with an understanding of the local market's unique characteristics and the challenges associated with tenant acquisition. For small-portfolio investors, the decision to invest in Section 8 properties in ZIP 82648 should be carefully weighed against the broader investment opportunities and the potential for higher occupancy rates in more densely populated areas.
Verdict: ZIP 82648 presents a niche opportunity for Section 8 landlords, but the low renter share and limited market data suggest caution and thorough due diligence are required.
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.