Location: Milwaukee-Waukesha, WI | Metro: Milwaukee-Waukesha, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
The ZIP code 53008, located in Brookfield, WI, within the Milwaukee-Waukesha, WI MSA metro area, presents itself as a strong diversifier within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 53008 in fiscal year 2024 is set at $1360, which aligns well with the renter share and median income characteristics of the area.
Although specific data on median home values and median incomes were not available, the employment statistics suggest a stable economic environment. With 38 business establishments employing approximately 489 people and generating an annual payroll of $30,886,000, there is a solid foundation of income generation within the ZIP code. This indicates a diverse population that can support various rental demands, including those served by Section 8 vouchers.
Adding units in ZIP 53008 to a Section 8 portfolio helps in balancing the overall risk profile. The area's economic stability ensures a consistent tenant pool, reducing the likelihood of vacancies. Furthermore, the presence of multiple real estate listing platforms, such as Zillow, RE/MAX, and Trulia, highlights active market conditions, which can be beneficial for property management and maintenance.
A diversifier strategy aims to spread risk across different types of investments, and ZIP 53008 fits this role perfectly. By including properties in this ZIP code, landlords and small-portfolio investors can leverage the steady demand for affordable housing without compromising on the quality of their investment. The FMR of $1360 provides a reliable benchmark for setting rents, ensuring compliance with HUD guidelines while maintaining a competitive edge in the local market.
Data Sources: FMR data from HUD (2027).
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.