Location: Sheridan County, WY | Metro: Campbell County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 82831 in Sheridan County, Wyoming, reveals critical insights for landlords and small-portfolio investors considering investment in this area.
Regarding rent math, the Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $1,160. However, without specific market rent data, it's challenging to make a direct comparison. The FMR provides a benchmark, but actual market conditions could vary significantly, affecting profitability.
On the affordability of acquisitions, the lack of detailed data on median home values, days on market (DOM), and the percentage of homes requiring price cuts hinders a comprehensive assessment. These metrics are crucial for understanding the local real estate market dynamics and the ease or difficulty of acquiring properties.
Tenant demand in ZIP 82831 is modest. With a total population of 153 and only 4.5% of residents being renters, the pool of potential tenants is limited. This low renter share suggests that rental properties might face competition for occupancy, making it essential to offer attractive living conditions and competitive pricing.
Verdict: Investment in ZIP 82831 is risky due to the limited tenant base and insufficient data on acquisition costs and market rents. Landlords should proceed with caution, focusing on properties that can be rented out at or near the FMR of $1,160 to ensure financial viability. Additionally, they must be prepared for potentially lower occupancy rates and longer vacancy periods compared to areas with a higher renter share.
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.