Location: Dodge County, WI | Metro: Dodge County, WI
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 | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $272,848 | 0.49% | F |
| 4BR | $1,360 | $292,751 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 53032 is a renter-heavy area, with 28.5% of the population renting their homes. This translates to approximately 1,397 renters out of a total population of 4,898. Given the percentage of renters and the median household income of $56,085, there is likely a significant demand for housing assistance through Section 8 vouchers.
The typical market rent in this area is $908 per month. This represents about 16.2% of the median household income, calculated by dividing the monthly rent by the annual income ($908 / $56,085 * 12 months = 16.2%). This ratio suggests that renters can afford the typical market rent without excessive strain on their finances.
Comparing the market rent to the Fair Market Rent (FMR) of $970, which is set for FY 2026 in the metro area, indicates that the current market rent is slightly below the FMR. This could mean that landlords who charge close to the FMR might still attract tenants who are willing to pay the higher rate, given the demand for rental properties.
A landlord in ZIP 53032 should expect tenants who are likely to rely on Section 8 vouchers due to the high percentage of renters and the relatively low median income. These tenants will be subject to the income limits and other eligibility criteria set by the housing authority. The expected tenant would have an income that allows them to contribute 30% of their adjusted income towards rent, with the remaining amount subsidized by the government.
To summarize, ZIP 53032 is well-suited for landlords and small-portfolio investors looking to participate in the Section 8 program. The area has a substantial number of renters and a median income that supports affordability at current market rents. Landlords can expect tenants who are dependent on vouchers to manage their housing costs effectively.
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.