Location: Sheridan County, WY | Metro: Sheridan County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The ZIP code 82838 stands out due to its unique mix of characteristics that differentiate it from other areas. With only 377 residents, it is a small community, but its rental market is notable at 12.7%, which is slightly above average for rural areas. The median income in ZIP 82838 is $65,815, providing a solid financial base for its inhabitants. However, the median home value of $546,200 suggests that homeownership is reserved for those with higher economic means, making the rental market an important segment for lower-income families.
Moving into the specifics of Section 8 housing, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,060. This figure is critical for landlords and small-portfolio investors as it represents the maximum amount that can be charged for rent under the Section 8 program. Unfortunately, the market rent data for ZIP 82838 is currently unavailable, which makes direct comparisons challenging. However, given the high median home value, it is reasonable to infer that market rents could be significantly higher than the FMR, potentially offering opportunities for landlords to manage their properties profitably within the constraints of the program.
In terms of stability, the data signature for ZIP 82838 leans towards being stable. The presence of a rental market, even if small, indicates some level of demand for affordable housing. Moreover, the median income and home values suggest a community that is financially secure. However, the limited population size and the absence of precise market rent data introduce elements of uncertainty. For landlords and investors, this ZIP code presents a niche market where understanding the local dynamics and leveraging the Section 8 program can lead to successful property management and investment.
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.