Location: Lincoln County, WY | Metro: Lincoln County, WY
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
U.S. Census Bureau data (2024)
The ZIP code 83128 is home to 2,033 residents, with 39.0% of them being renters. The median household income in this area is notably high at $112,476. This suggests that while there is a significant renter population, it is not overwhelmingly dominated by renters, indicating a balanced mix between homeowners and tenants.
The market rent for the area stands at $1,382 per month. Considering the median household income, this means that the average rent consumes approximately 15.4% of the monthly income when calculated based on a 12-month annual income. This figure is relatively low compared to national averages, which often see rent consuming a higher percentage of income, especially in areas with lower median incomes.
The Fair Market Rent (FMR) for the ZIP code is set at $1,420 for the fiscal year 2026, slightly above the current market rent. This indicates that the rental market in 83128 is competitive but fair, with rents closely aligned to the government's benchmark for the metro area.
Given these factors, landlords in ZIP 83128 can expect a tenant pool that is financially stable and capable of meeting rent obligations without excessive strain on their budgets. Tenants here are likely to be professionals or families who value the area's amenities and are willing to pay a premium for housing. The relatively high median income also suggests that many potential tenants could afford market rates without relying heavily on vouchers, although some may still qualify given the FMR.
To conclude, the ZIP code 83128 presents a favorable environment for landlords and small-portfolio investors, characterized by a moderate renter population and robust financial conditions among residents. The expected tenant profile includes individuals and families with steady incomes, capable of handling the current market rent without significant difficulty.
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.