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 | $1,370 |
| 1 Bedroom | $1,480 |
| 2 Bedrooms | $1,760 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,160 | $625,968 | 0.35% | F |
| 4BR | $2,320 | $815,206 | 0.28% | F |
U.S. Census Bureau data (2024)
1720 is the Fair Market Rent (FMR) for ZIP code 53018, set for fiscal year 2024 by HUD. This figure represents the maximum amount a Section 8 tenant can pay toward their rent in the area. In contrast, the market rent, known as ZORI, stands at 2340 dollars, indicating a significant gap between what the government will subsidize and what landlords could potentially charge non-subsidized tenants. The median home value in this ZIP code is 669411 dollars, reflecting a relatively stable housing market. Renter share is 25.6%, showing that over a quarter of households in 53018 prefer renting over owning, which could be due to the high median home value. Median income in the area is 124595 dollars, suggesting that while incomes are moderate, they may struggle to cover the higher market rents without assistance. The data does not provide the average days on market (DOM) or the percentage of homes that have had their prices cut, which would typically help gauge market activity and seller flexibility. Given these numbers, landlords should consider the benefits of Section 8 tenancy, such as guaranteed rental income through government subsidies, especially since the gap between FMR and ZORI is substantial. With a strong renter share and a moderate income level, Section 8 can offer a reliable source of rental income for properties valued around the FMR threshold. The verdict on Section 8 for ZIP 53018 is positive, as it provides a stable option for landlords seeking consistent occupancy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.