HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Sheridan County, Wyoming (FY 2026)
$1,129 a month. That's HUD's FY 2026 Fair Market Rent for a two-bedroom in Sheridan County, and it's the baseline every voucher in Sheridan is measured against.
2 bedroom FMR
$1,129
FY 2026, utilities included
Payment standard range
$1,016 to $1,242
90% to 110% of FMR
Income to afford 2BR
$45,160
per year, at 30% of income
Rank in Wyoming
4th of 23
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Sheridan moves to $1,168. That's up 3%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Sheridan actually rent for?
Search any address in Sheridan for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $855 | $770 to $941 | $34,200 | $16.44/hr | +2.9% |
| 1 bedroom | $860 | $774 to $946 | $34,400 | $16.54/hr | +2.9% |
| 2 bedroom | $1,129 | $1,016 to $1,242 | $45,160 | $21.71/hr | +2.9% |
| 3 bedroom | $1,354 | $1,219 to $1,489 | $54,160 | $26.04/hr | +2.4% |
| 4 bedroom | $1,891 | $1,702 to $2,080 | $75,640 | $36.37/hr | +10.5% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,175 | $1,958 to $2,393 |
| 6 bedroom Estimate | $2,458 | $2,212 to $2,704 |
| 7 bedroom Estimate | $2,742 | $2,468 to $3,016 |
| 8 bedroom Estimate | $3,026 | $2,723 to $3,329 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Sheridan, that runs from $855 for a studio up to $1,891 for four bedrooms, all five rates in the table above.
Because Sheridan sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Sheridan included.
Among Wyoming's 23 counties, Sheridan ranks 4th for two-bedroom FMR. That's about 15% above the state median of $980 and about 11% above the national median county at $1,018. About 31,176 people live here, 7th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,000 in 82836 (Dayton) and $1,420 in 82835 (Clearmont), with the 12 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 82801 | Sheridan | $1,120 | -0.8% |
| 82831 | Arvada | $1,160 | +2.7% |
| 82832 | Banner | $1,200 | +6.3% |
| 82833 | Big Horn | $1,120 | -0.8% |
| 82835 | Clearmont | $1,420 | +25.8% |
| 82836 | Dayton | $1,000 | -11.4% |
| 82837 | Leiter | $1,420 | +25.8% |
| 82838 | Parkman | $1,060 | -6.1% |
| 82839 | Ranchester | $1,010 | -10.5% |
| 82842 | Story | $1,130 | +0.1% |
| 82844 | Wolf | $1,050 | -7.0% |
| 82845 | Wyarno | $1,210 | +7.2% |
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Sheridan somewhere between $1,016 and $1,242. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,129 a month is affordable, by HUD's 30% rule, on an income of roughly $45,160 a year. Put another way, $22 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,016) | HAP at 100% ($1,129) | HAP at 110% ($1,242) |
|---|---|---|---|---|
| $2,500 | $750 | $266 | $379 | $492 |
| $4,000 | $1,200 | $0 | $0 | $42 |
Rate history
The two-bedroom rate went up 3% from FY 2025 ($1,097) to FY 2026 ($1,129). Since FY 2020 it's up 30% in total, about 4.4% a year. The Wyoming median held flat over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $651 | $703 | $871 | $1,101 | $1,529 | — |
| FY 2021 | $675 | $689 | $866 | $1,132 | $1,499 | -0.6% |
| FY 2022 | $703 | $707 | $893 | $1,130 | $1,528 | +3.1% |
| FY 2023 | $736 | $762 | $963 | $1,217 | $1,602 | +7.8% |
| FY 2024 | $875 | $876 | $1,145 | $1,384 | $1,802 | +18.9% |
| FY 2025 | $831 | $836 | $1,097 | $1,322 | $1,712 | -4.2% |
| FY 2026 | $855 | $860 | $1,129 | $1,354 | $1,891 | +2.9% |
| FY 2027 | $887 | $893 | $1,168 | $1,392 | $1,952 | +3.5% |
Nearby counties
Questions people ask
$1,129 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $855 for a studio, $860 for one bedroom, $1,354 for three and $1,891 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Sheridan actually go for?
HUD's number is one input. Search any address in Sheridan for a rent estimate built from nearby comps. 3 free searches, no card.
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