Location: Milwaukee-Waukesha, WI | Metro: Milwaukee-Waukesha, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
The median household income in ZIP 53052 (Menomonee Falls, WI) is $58,052. However, the market rent rate for a two-bedroom apartment is $1,612, which presents a significant challenge for many households to afford without assistance.
The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 53052 for fiscal year 2024 is $1,360. This means that the market rate is $252 higher than the FMR, indicating an affordability gap for tenants relying solely on vouchers.
Around 5-year trend data shows the median rent has increased by 15.1%, rising from $1,382 to $1,612. This increase puts more pressure on households to find affordable housing options.
The affordability gap between the market rate and the FMR means that landlords face competition from those who accept lower rents through voucher programs. Landlords considering voucher vs. cash-pay strategies must weigh the benefits of guaranteed payments against the potential for higher rent from cash-paying tenants.
Takeaway: For landlords in ZIP 53052, the decision to accept Section 8 vouchers versus seeking cash-paying tenants depends on the balance between the stability of government-backed rent payments and the possibility of receiving higher market rates. Given the significant difference between the FMR and the market rate, landlords might find it advantageous to explore both options to maximize occupancy and financial returns.
Data Sources: FMR data from HUD (2027).
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.