Location: Campbell 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 | $880 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,540 | $268,643 | 0.57% | F |
| 4BR | $1,890 | $293,268 | 0.64% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 82732 in Campbell County, Wyoming, reveals several key points for landlords and small-portfolio investors.
The rent math does not work favorably here. The Fair Market Rent (FMR) for the area, set at $1,150 for the fiscal year 2026, is the only figure available for comparison. Without specific market rent data, it's challenging to assess whether the FMR aligns with what tenants are willing to pay. This uncertainty can lead to risks if market rents are lower than the FMR.
Acquisition is moderately affordable. With a median home value of $271,626, the cost to buy property is relatively low compared to other parts of the country. However, without detailed information on the days on market (DOM) and the percentage of homes that have been subject to price cuts, it's difficult to gauge how competitive the market is for purchasing properties.
Tenant demand is limited. The ZIP code has a total population of 1,671, with only 10.3% of residents being renters. This suggests a smaller pool of potential tenants, which could make it harder to find occupants for rental properties.
Verdict: While the median home value makes property acquisition somewhat affordable, the lack of comprehensive market rent data and the limited tenant demand pose significant challenges. Landlords should proceed cautiously, ensuring they conduct thorough due diligence on market conditions and tenant availability before investing in ZIP 82732. The FMR of $1,150 must be carefully considered against local willingness to pay, and the low renter share indicates a need for strategic marketing to attract and retain tenants.
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.