Location: Lincoln County, WY | Metro: Lincoln County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 83123 in Lincoln County, Wyoming, reveals several key points for potential real-estate investors focused on Section 8 housing.
The first question concerns whether the rent math works. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $960. However, the market rent is listed as N/A, which means that there is insufficient data to determine if the FMR aligns with current market rates. This lack of information makes it challenging to assess the profitability solely based on rental income.
Regarding the affordability of acquisitions, the data shows that the median home value is also listed as N/A, along with the days on market (DOM) and the percentage of homes requiring price cuts. Without these figures, it's difficult to gauge how competitive the market is for purchasing properties. Typically, lower median values and higher percentages of price cuts indicate a more affordable market for acquiring properties, but the absence of such data prevents a definitive conclusion here.
The third point of interest is the tenant demand. ZIP 83123 has a population of 679, with 4.9% of residents being renters. This indicates a limited pool of potential tenants, suggesting that competition for Section 8 vouchers could be intense. Given the small number of renters, securing a steady stream of qualified applicants might prove challenging.
Verdict: Investment in ZIP 83123 presents a mixed picture. While the Fair Market Rent of $960 provides a clear guideline for rental income, the lack of specific market data hinders a comprehensive assessment of property acquisition costs and tenant demand. Landlords and small-portfolio investors should proceed with caution, considering the limited renter base and the need for additional research into local real estate trends before making investment decisions.
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.