Location: Milwaukee-Waukesha, WI | Metro: Milwaukee-Waukesha, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
To classify ZIP code 53060 in Unknown, WI, we need to analyze the given data points related to yield and stability.
Yield Analysis:
The Fair Market Rent (FMR) for ZIP 53060 in fiscal year 2024 is $1160. This figure represents the maximum amount that a landlord can charge for a rental property under the Section 8 program. However, the market rent and home value data are not available, which makes it difficult to compare FMR against typical market conditions. Despite this lack of comparative data, a FMR of $1160 suggests that landlords participating in the Section 8 program can expect a relatively stable rental income, assuming they manage their properties well and adhere to the program's guidelines.
Stability Analysis:
The percentage of renters, days on market (DOM), and median income figures are not provided for ZIP 53060. Without these key metrics, it is challenging to assess the overall stability of the rental market in this area. The absence of such data implies that there might be limited information about the local economic conditions and housing demand, which could affect the predictability of rental income over time.
Market Classification:
Based on the available data, ZIP 53060 cannot be definitively classified as either a high-yield/low-stability flip-style market or a steady-cashflow zone. The FMR of $1160 indicates a moderate level of yield, but without market rent and home value comparisons, it is unclear how competitive this yield is relative to other investment opportunities in the area. Additionally, the lack of data on the percentage of renters, DOM, and median income means that stability cannot be accurately assessed. Therefore, ZIP 53060 appears to fall somewhere in between, requiring further investigation into local market dynamics before making a definitive classification.
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.