Location: Crook County, WY | Metro: Crook County, WY
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,270 | $439,387 | 0.29% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 82720 are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2026 is $960. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards the rent for a two-bedroom unit in this area. However, the local market rent for a similar unit is notably lower at $632, according to the latest Census ACS data.
To understand what a landlord receives when a tenant uses a voucher, it's essential to factor in both the tenant's portion and any utility allowances. Under the Section 8 program, tenants are typically required to pay 30% of their adjusted income towards rent. If we assume an average adjusted income that would result in a tenant contribution of approximately $192 (which is 30% of the SAFMR), then the voucher would cover the remaining 70%, which is $768.
In addition to the rent subsidy, the voucher also includes utility allowances. These vary but generally aim to cover a reasonable cost of utilities for the household. For simplicity, let's assume an additional $100 per month for utilities. Therefore, the total monthly reimbursement a landlord can expect from the voucher program, including the tenant's contribution and the utility allowance, is $960.
Given the local market rent of $632, this means that landlords participating in the Section 8 program for a two-bedroom apartment in ZIP 82720 will receive a surplus of $328 per month over the typical market rent. This surplus provides a significant buffer and ensures that landlords are not only meeting their financial obligations but also earning above the standard market rate.
The uniformity of the SAFMR across this specific ZIP code means that all units in ZIP 82720 are subject to the same rental rate cap, regardless of location within the ZIP code. This consistency helps landlords plan their finances and understand the economic landscape they operate in.
In summary, landlords in ZIP 82720 who accept Section 8 vouchers for two-bedroom apartments will receive a total of $960 per month, which exceeds the local market rent by $328, providing a clear financial advantage.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.