Sheridan County, WY: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,1682-bedroom FMR, FY2027

$8931-bedroom FMR, FY2027

$82,10080% income limit, family of 4 (FY2026)

$100,200Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Sheridan County is $1,168 a month, up 3.5% from $1,129 in FY2026. Sheridan County belongs to the Sheridan County, WY FMR area (non-metro county), so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Sheridan County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$887	$855	+3.7%	$799 – $975
1 bedroom	$893	$860	+3.8%	$804 – $982
2 bedrooms	$1,168	$1,129	+3.5%	$1,052 – $1,284
3 bedrooms	$1,392	$1,354	+2.8%	$1,253 – $1,531
4 bedrooms	$1,952	$1,891	+3.2%	$1,757 – $2,147

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Sheridan County that is typically $1,052 to $1,284 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$40,339median income of renter households

$939Median gross rent, all units

28%Rent-to-income ratio (median rent ÷ median renter income)

48%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $40,339 can afford about $1,008 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,168 is $160 (15.8%) more than that. To rent a two-bedroom at the FMR, a household needs $46,720 a year under the 30% rule, or $42,048 under the common landlord rule that income must be three times the rent.

Sheridan County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$939 ±$91
Median income of renter households	$40,339 ±$6,098
Renters paying 30% or more of income (cost-burdened)	47.8% ±8.5
Renters paying 50% or more (severely cost-burdened)	23.3% ±6.8
Renter households (where the share can be computed)	3,608

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$836	$939	+12.3%
Median renter household income	$39,988	$40,339	+0.9%
Renters paying 30%+ of income	37.1%	47.8%	+10.7 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

HUD income limits for Sheridan County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $100,200 (FY2025: $108,000, −7.2%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$21,600 −4.8%	$24,650 −5.0%	$27,750 −5.0%	$33,000 +1.9%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$35,950 −4.9%	$41,050 −5.0%	$46,200 −4.9%	$51,300 −5.0%	$55,450 −5.0%	$59,550 −4.9%	$63,650 −5.0%	$67,750 −5.0%
Low income (80%)	$57,500 −5.0%	$65,700 −5.0%	$73,950 −4.9%	$82,100 −5.0%	$88,700 −5.0%	$95,250 −5.0%	$101,850 −4.9%	$108,400 −5.0%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.