Location: Lincoln County, WY | Metro: Lincoln County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
U.S. Census Bureau data (2024)
In ZIP code 83114, there are several potential issues that could impact a landlord's decision to invest in Section 8 properties. First, tenant turnover is likely to be higher due to the disparity between the market rent of $840 and the Fair Market Rent (FMR) of $1,350 for the metro area in fiscal year 2026. This difference suggests that tenants might struggle to cover additional costs beyond their voucher amount, leading to frequent moves.
Vacancy exposure is another concern. The average days on market (DOM) for rental properties in this area is not available, which makes it difficult to predict how long a property might remain vacant. High vacancy rates can significantly affect cash flow, especially when waiting for Section 8 tenants who require additional processing time.
The deferred maintenance exposure is also noteworthy. With a median income of $85,536 and an unknown typical home value, landlords must consider the financial capacity of tenants to handle unexpected maintenance costs. While higher incomes might suggest better financial stability, the lack of data on home values complicates this assessment.
However, these risks are offset by the high concentration of renters in the area, with 21.0% of residents being renters. This statistic indicates a strong potential for voucher demand, as more renters generally translate into a higher number of Section 8 participants looking for housing.
In conclusion, despite the challenges of tenant turnover, vacancy exposure, and deferred maintenance, the high renter share in ZIP 83114 presents a favorable environment for Section 8 investments. Therefore, the overall risk for a first-time Section 8 landlord in this ZIP code is moderate.
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.