Location: Teton County, WY | Metro: Teton County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,280 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,680 |
| 3 Bedrooms | $2,330 |
| 4 Bedrooms | $2,780 |
| 5 Bedrooms | $3,225 |
| 6 Bedrooms | $3,612 |
| 7 Bedrooms | $3,901 |
| 8 Bedrooms | $4,096 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 83011 are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1,650 per month for the fiscal year 2026. This figure represents the maximum amount that the housing authority will pay on behalf of a tenant receiving rental assistance under the Section 8 program. However, it's important to note that the actual rent charged to tenants can be lower, depending on their income.
A voucher payment under Section 8 is composed of two parts: the subsidy paid by the housing authority and the tenant's portion, which is typically 30% of their adjusted monthly income. For example, if a tenant has an adjusted monthly income of $1,000, they would pay $300 toward rent. The remaining $1,350 would come from the housing authority, assuming the total rent does not exceed the SAFMR of $1,650.
In addition to the base rent, Section 8 also includes utility allowances. These allowances vary but generally cover a portion of the tenant's energy, water, and sewer costs. Utility allowances can range from $100 to $300 per month, depending on the specifics of the property and its location.
To illustrate, let's assume the utility allowance for a property in ZIP 83011 is $200. If a landlord charges the full SAFMR of $1,650, the housing authority would pay $1,350 for rent and $200 for utilities, totaling $1,550. In this scenario, the landlord would receive less than the full rent charged, resulting in a reimbursement gap of $100.
If the local market rent were known and lower than the SAFMR, landlords could charge the market rate and still receive the full SAFMR amount from the housing authority, leading to a surplus. However, since the local market rent for ZIP 83011 is currently unknown, we cannot determine whether there would be a surplus or gap without additional data.
Given the SAFMR of $1,650, landlords must ensure that the total rent and utilities do not exceed this amount. Charging more than the SAFMR would mean the tenant would have to make up the difference, which is not allowed under the Section 8 program.
In summary, for a two-bedroom apartment in ZIP 83011, the typical reimbursement gap when charging the full SAFMR would be $100, assuming a utility allowance of $200 and a tenant's portion of $300. Landlords should carefully consider these economic factors before deciding to participate in the Section 8 program.
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.