Section 8 Fair Market Rent (FMR) for ZIP 53047 - 2027

Location: Dodge County, WI | Metro: Dodge County, WI

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$47,000

Housing Units

Renter Percentage

30.0%

Occupancy Rate

94.3%

Renter Occupied

The ZIP code 53047, located in Waukesha County, Wisconsin, is a suburban area characterized by its proximity to Milwaukee and the economic opportunities that come with it. The region offers a mix of residential and commercial spaces, catering to both families and young professionals.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,090, providing a benchmark for rental pricing in the area.
According to the Census ACS, the average market rent for properties in ZIP 53047 is currently $765, indicating a potential opportunity for rental income growth towards the FMR.
The median home value is not available, which could suggest a lack of recent sales data or a predominance of rental units over owned homes.
Renters make up 30.0% of the population, showing a significant portion of the market that relies on rental housing.
The median income for residents is $47,000, which can be used to gauge the affordability of rents and the potential demand for affordable housing options.

For landlords and small-portfolio investors looking to capitalize on the rental market in ZIP 53047, the data suggests a growing opportunity. With the current market rent significantly below the FMR, there is room for price increases. The substantial renter share indicates a steady demand for rental properties. However, investors should consider the median income when setting rent prices to ensure they remain competitive and attractive to tenants. Overall, ZIP 53047 presents a promising investment landscape for those interested in the rental sector.

Data Sources: FMR data from HUD (2027). 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.