Location: Crook County, WY | Metro: Campbell 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 | $810 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $313,760 | 0.32% | F |
| 3BR | $1,270 | $385,095 | 0.33% | F |
| 4BR | $1,650 | $466,284 | 0.35% | F |
U.S. Census Bureau data (2024)
In ZIP code 82721, Wyoming, the real estate market presents a nuanced landscape for landlords and small-portfolio investors. The median home value stands at $372,019, indicating a stable price point that has seen minimal fluctuation, with only 0.1% of listings reducing their prices. This suggests strong seller's market conditions, where homeowners have confidence in maintaining or slightly increasing their asking prices. The N/A-day median days on market (DOM) signals either an exceptionally quick turnover of properties or a lack of sufficient data points to determine an average, both scenarios pointing towards high demand and swift sales.
The combination of these factors—median home value, low percentage of price reductions, and rapid property turnovers—implies significant pricing power for sellers over the next 12-24 months. Landlords can leverage this by setting competitive rental rates that align with the robust housing values. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is projected at $960, slightly above the current market rate of $944 as reported by the Census Bureau's American Community Survey (ACS). This upward trend in FMR suggests that rental rates could rise in tandem with home values, providing a steady income stream for those who hold onto their properties.
For long-term investors, the appreciation thesis in 82721 hinges on continued economic stability and growth. With minimal price reductions and strong seller's market conditions, there is potential for gradual appreciation. However, the exact rate is contingent upon broader economic factors and local developments. Realistically, investors should expect modest but consistent growth, aligning with the overall trend of rising home values and rental rates. This setup supports a conservative investment strategy focused on steady returns rather than speculative gains.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.