Location: Lincoln County, WY | Metro: Lincoln County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The potential pitfalls for landlords investing in Section 8 properties in ZIP code 83111 are significant. Tenant turnover can be a major issue, with the Fair Market Rent (FMR) set at $1,190 for fiscal year 2026, which may not align with the local market rent. This misalignment can lead to higher churn rates as tenants seek more affordable housing options. Additionally, the risk of vacancy exposure is considerable due to the unknown average days on market (DOM), which indicates how long properties typically remain vacant before being rented out. A prolonged DOM period can result in lost rental income and increased holding costs.
The exposure to deferred maintenance is another concern. With a median household income of $131,000, it's likely that many residents in ZIP 83111 can afford to live outside of subsidized housing. However, the lack of data on typical home values makes it difficult to assess the overall condition of the housing stock. If homes are older and require frequent repairs, landlords might face higher maintenance costs and the necessity to keep up with property standards mandated by the Housing Choice Voucher program.
Despite these risks, the investment in Section 8 properties in ZIP 83111 is somewhat mitigated by the area's low renter share. At 0.0%, this statistic suggests a high concentration of homeowners, which often correlates with lower demand for rental properties, including those participating in the Section 8 program. While this might limit the pool of potential tenants, it also reduces competition among landlords for voucher holders, potentially stabilizing the number of applications and easing the screening process.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.