Location: Dodge County, WI | Metro: Dodge County, WI
| 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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 53059 in the upcoming fiscal year 2026 is set at $970. This figure represents the maximum amount the Housing Choice Voucher program, commonly known as Section 8, will pay towards the rent of an eligible tenant. It does not reflect the total rent you can charge your tenants.
Comparatively, the average rent in ZIP 53059, as reported by the Census Bureau's American Community Survey, is $1,031. This indicates that the FMR is slightly below the market rate, meaning landlords could potentially charge a higher rent to voucher holders, but the voucher would only cover up to $970. The difference must be paid by the tenant out-of-pocket.
The renter share in this area is 14.8%, suggesting that nearly one in every seven households are renters. This provides a steady demand for rental properties, especially those that cater to low-income families through the Section 8 program. Given the FMR and the local average rent, there is a niche market for affordable housing that you can tap into.
When considering purchasing a property in ZIP 53059 for a Section 8 rental, note that the median home value is around $453,895. This is the typical price you might expect to pay for a property, though actual costs can vary based on condition, location, and other factors.
Before proceeding with a purchase, it is crucial to verify that the property meets all the required standards set by the local housing authority. These standards ensure that the living conditions are safe and habitable, which is mandatory for any property participating in the Section 8 program. Failure to meet these criteria can result in disqualification from the program and potential legal issues.
To summarize, the FMR of $970 means that the government will subsidize up to this amount for eligible tenants. With a local average rent of $1,031, there is room for higher rents while still providing affordable housing options. The 14.8% renter share suggests a stable demand, and the acquisition cost of approximately $453,895 gives you a baseline for property investment. Ensure the property complies with housing authority standards to avoid complications.
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.