Location: Sublette County, WY | Metro: Sublette County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 cap-rate picture for ZIP code 82922 reveals some critical insights into potential investment opportunities for landlords and small-portfolio investors.
Based on the Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 82922, which stands at $1,360 per month for fiscal year 2026, the annualized rental income would be $16,320. Given the median home value in this area is $701,998, the implied gross yield for a property rented under the Section 8 program would be approximately 2.32%. This calculation is derived from dividing the annual rental income by the median home value.
However, the market rent for the area is listed as N/A, which means there is insufficient data to provide a direct comparison to the Section 8 rates. In a scenario where market rents are higher, the gross yield for a property rented at market rates would naturally exceed the 2.32% calculated for the Section 8 rate. For instance, if the market rent were $1,800 per month, the annualized rental income would be $21,600, leading to a gross yield of about 3.08%.
The gross-yield comparison between the two scenarios is stark: renting at market rates can potentially increase the gross yield by over 0.75 percentage points compared to renting under Section 8. However, the decision to pursue one strategy over the other should also consider the local rental dynamics. With a 0.0% renter density and the day-on-market (DOM) status listed as N/A, it's evident that the rental market in ZIP 82922 is either non-existent or lacks sufficient data to draw meaningful conclusions.
In such a context, relying on the Section 8 program might be the most realistic option for generating steady income, albeit at a lower gross yield. The predictability and stability offered by Section 8 could outweigh the risks associated with an uncertain rental market. Therefore, while market rents could offer a higher gross yield, the lack of substantial rental activity makes the Section 8 scenario more practical for securing a consistent cash flow.
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.