Section 8 Fair Market Rent (FMR) for ZIP 82837 - 2027

Location: Sheridan County, WY | Metro: Sheridan County, WY

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,050
1 Bedroom	$1,050
2 Bedrooms	$1,380
3 Bedrooms	$1,640
4 Bedrooms	$2,310
5 Bedrooms	$2,680
6 Bedrooms	$3,002
7 Bedrooms	$3,242
8 Bedrooms	$3,404

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$54,531

Housing Units

Renter Percentage

57.9%

Occupancy Rate

76.0%

Renter Occupied

The ZIP code 82837, located in Wyoming, is a niche market that offers unique opportunities for real estate investors. This area is characterized by a significant renter population and a moderate Fair Market Rent (FMR) rate, which can be advantageous for those looking to invest in rental properties.

Average Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,420, providing a benchmark for rental pricing in the region.
Rental market data is currently unavailable, indicating a less saturated market and potentially lower competition for landlords.
The median home value data is also not available, suggesting a need for further investigation into property values within the area.
57.9% of residents in ZIP 82837 are renters, highlighting a strong demand for rental properties and a favorable environment for landlords.
The days on market (DOM) data is not available, which could mean that properties are either selling quickly or that there isn't enough transaction data to provide a reliable average.
The median household income in the area is $54,531, which is important to consider when evaluating the affordability of housing for potential tenants.

In summary, ZIP 82837 presents a viable investment opportunity for real estate investors interested in the rental market. With a substantial portion of the population renting and a defined Fair Market Rent, landlords can set competitive rates. The lack of saturation in the rental market and the median income level suggest that there is a steady demand for affordable housing. However, the absence of specific data points such as median home values and days on market indicates that due diligence should be performed before making any investment decisions.

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.