Section 8 Fair Market Rent (FMR) for ZIP 51365 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 51365 has a population of 416 individuals, with only 6.3% being renters. This indicates that the area is predominantly dominated by homeowners rather than renters, suggesting that the demand for housing vouchers under the Section 8 program is likely to be low. The median household income in this ZIP code stands at $71,667, which is relatively high compared to national averages.

Given the lack of specific market rent data, it's difficult to provide an exact percentage of local income that typical rent consumes. However, we can compare the median income to the Fair Market Rent (FMR) of $920 for the fiscal year 2026, which is indicative of the metro area's average rental costs. Assuming the FMR reflects the typical rent in 51365, then a household earning the median income would spend approximately 15.3% of their monthly income on rent ($920 out of roughly $5,972).

In such a homeowner-dominated area, landlords should anticipate a tenant pool that is likely to be financially stable and able to afford market-rate rents without relying heavily on housing vouchers. Tenants in this ZIP code will most probably have a strong employment history and sufficient income to cover rent without assistance. Landlords can expect tenants who are capable of meeting their financial obligations and maintaining properties well due to the higher income levels and lower dependency on rental subsidies.

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.