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 | $1,010 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $439,713 | 0.3% | F |
| 3BR | $1,600 | $558,402 | 0.29% | F |
| 4BR | $1,710 | $806,681 | 0.21% | F |
| 5BR | $1,984 | $1,172,132 | 0.17% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 53029, Hartland, WI, within Waukesha County and the Milwaukee-Waukesha, WI MSA metro, reveals a competitive but favorable environment. The HUD Fair Market Rent (FMR) for FY 2024 is set at $1,290, while the Census American Community Survey (ACS) indicates an average market rent of $1,257. This suggests that voucher tenants will generally cashflow at the FMR, providing landlords with a stable income source.
To further understand the investment potential, consider the median home value in the area, which stands at $657,014. By comparing this figure to the average market rent, we can calculate a rent-to-price ratio of approximately 0.19%. This low ratio implies that owning rental properties in this area may be more attractive than purchasing a home, given the relatively high property values and lower rents.
The dynamics of days on market (DOM) and price-cut shares do not significantly impact the decision-making process for investors in this scenario, as both are noted as N/A and 0.1%, respectively. These figures indicate minimal need for price adjustments and a quick turnover of rental listings, which supports the stability of the rental market.
The strongest angle for investors in ZIP 53029 is likely to be cashflow, given that voucher tenants can cover the costs at the FMR without requiring premium units. This ensures a steady stream of income with minimal risk of vacancy or non-payment.
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.