Location: Sheboygan, WI | Metro: Fond du Lac, 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 | $730 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,370 | $342,391 | 0.4% | F |
U.S. Census Bureau data (2024)
In ZIP code 53023, the economics of Section 8 housing can be clearly defined using the available data. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment is set at $1030 per month for FY 2024. This figure represents the maximum amount that a landlord can charge a Section 8 tenant for rent. It's important to note that the SAFMR is specific to this ZIP code, meaning it reflects the unique economic conditions of the area.
The local market rent for a two-bedroom apartment in ZIP 53023 is recorded at $900 per month according to the Census ACS (American Community Survey). This indicates that the SAFMR is higher than the average market rent, which could be beneficial for landlords participating in the program.
A Section 8 voucher works by covering the difference between the tenant's portion of the rent and the total rent. The tenant is required to pay 30% of their adjusted income towards rent. If we assume an average adjusted income of $2000 per month for a tenant in this ZIP code, the tenant would pay approximately $600 towards rent. The remaining amount, up to the SAFMR, would be covered by the Section 8 program. Therefore, if the local market rent is $900, the voucher would cover the additional $330 to reach the SAFMR limit of $1030.
Utility allowances are also part of the calculation. For ZIP 53023, the utility allowance is included in the SAFMR figure, so landlords do not need to separately account for utilities when calculating their reimbursement. This means that the total reimbursement from the voucher program includes both rent and utilities, simplifying the financial planning for landlords.
Given these specifics, landlords in ZIP 53023 who participate in Section 8 can expect a reimbursement that aligns closely with the SAFMR of $1030. Since the local market rent is lower at $900, there is typically a surplus for landlords. The surplus is the difference between the SAFMR and the local market rent, which in this case is $130 per month. This surplus can help offset any administrative costs associated with the program and provide a buffer against potential maintenance or vacancy periods.
To summarize, landlords in ZIP 53023 can anticipate a steady income stream that matches the SAFMR of $1030, with a surplus of $130 over the typical local market rent of $900. This makes Section 8 a financially viable option for landlords looking to stabilize their rental income and serve tenants in need.
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.