Location: Lincoln County, WY | Metro: Lincoln County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 83119 presents a unique set of challenges and opportunities for both renters and landlords. Given the lack of specific median income data, it's crucial to focus on the housing costs and voucher standards to understand the financial dynamics at play.
The market rate for rentals in ZIP 83119 is also listed as N/A, which suggests limited available data. However, we know that the Fair Market Rent (FMR) for the area, as per the metro fiscal year 2026, is set at $960. This figure serves as a benchmark for the Housing Choice Voucher Program, commonly known as Section 8. It means that a household receiving a voucher would be able to pay up to $960 towards their rent, assuming they contribute 30% of their adjusted income towards the rent portion.
With 100% of the population being renters and only 31 individuals in the total population, the competition among landlords is likely to be intense. The small number of potential tenants means that landlords must be strategic in how they price their units and cater to the needs of those who might rely on vouchers for housing assistance.
The affordability gap, defined by the difference between the market rate and the voucher payment standard, is significant in ZIP 83119. Without precise market rate data, it's reasonable to infer that the actual rental rates could exceed the $960 voucher limit, especially considering the high demand and limited supply of rental properties. This gap can be a deterrent for households seeking stable housing and can lead to increased competition for the few properties that do accept vouchers.
For landlords considering whether to adopt a voucher versus cash-pay strategy, the takeaway is clear. Accepting vouchers can secure long-term tenancy and reduce turnover, but it may mean lower rental income compared to the market rate. Cash-paying tenants might offer higher rent, but the scarcity of such households in ZIP 83119 makes voucher acceptance a viable option to ensure occupancy and stability. Landlords should weigh the benefits of steady, government-backed payments against the potential for higher rents from cash-paying tenants, while also considering the local rental market conditions and tenant preferences.
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.