Location: Sheboygan, WI | Metro: Sheboygan, WI MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $350,559 | 0.35% | F |
U.S. Census Bureau data (2024)
The ZIP code 53001 is situated in a quiet suburban neighborhood characterized by its relatively small population of 1,766 residents. The area is predominantly owner-occupied, with only 13.8% of the residents being renters. This low rental rate suggests a community where homeownership is highly valued, which can be attributed to the median household income of $92,294. Such a robust financial standing among residents indicates an economically stable environment.
In terms of housing, the median home value in ZIP 53001 is $330,849, reflecting a modest yet comfortable living standard. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $910, slightly above the reported market rent of $832 according to the Census ACS data. This suggests that the government's assessment of rental values is aligned with market conditions, but slightly inflated to ensure affordability for those receiving housing assistance through Section 8 vouchers.
Given these economic factors, ZIP 53001 presents a mixed opportunity for investors. For a hands-off voucher operator, the area offers a stable tenant base with a reasonable gap between the FMR and market rent, providing a predictable revenue stream. However, the limited number of renters might mean fewer potential tenants overall, which could affect the volume of Section 8 applications received.
On the other hand, for a hands-on value-add buyer, there are opportunities to improve properties and potentially command rents closer to the FMR. With the median income being high, there is a strong likelihood that residents can afford higher rents, making it a viable option for those looking to increase their property's value over time. Additionally, the difference between the median home value and the FMR suggests that there is room for both appreciation and rental price adjustments without alienating the local market.
In summary, ZIP 53001 is well-suited for hands-off operators seeking steady returns due to its stable economy and slight premium in FMR. For hands-on investors, the potential exists to enhance property values and rents, leveraging the area’s economic strength for greater profitability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.