Location: Milwaukee-Waukesha, WI | Metro: Milwaukee-Waukesha, 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 | $1,470 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,890 | $442,281 | 0.43% | F |
| 3BR | $2,320 | $465,949 | 0.5% | F |
| 4BR | $2,490 | $612,464 | 0.41% | F |
| 5BR | $2,888 | $752,868 | 0.38% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 53005, Brookfield, Wisconsin, in fiscal year 2024 is set at $1760. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It does not mean that tenants will pay this amount; rather, it is the maximum subsidy the government will provide to cover a portion of the rent.
To put this into context, the local Zillow Observed Rent Index (ZORI) for Brookfield is currently at $1810. This indicates that the average market rent for a property in this area slightly exceeds the Section 8 payment standard. However, the 15.4% renter share suggests that there is a significant demand for affordable housing in Brookfield, making Section 8 rentals a viable option for landlords.
The median home value in Brookfield is approximately $498,279. For a landlord looking to acquire a property for a Section 8 rental, this figure gives an idea of the investment required. Given the demand and the payment standard, the potential returns can be calculated based on the subsidy amount and any additional rent paid by the tenant.
Before deciding to enter the Section 8 market, verify that your property meets all the necessary requirements for the program, including safety, health, and decent standards. This ensures compliance and avoids delays in securing tenants.
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.