Location: Manitowoc County, WI | Metro: Manitowoc County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The median income in ZIP code 53063 stands at $100,000, offering insight into the financial capacity of local households. At the market rate of $865 per month (as reported by the Census Bureau's American Community Survey), a household in this area could reasonably afford typical rental costs. However, the comparison to the Fair Market Rent (FMR) voucher payment standard of $970 for the metro area in fiscal year 2026 reveals a significant discrepancy. This means that while market rates are currently below the voucher payment standard, there is potential for higher rents if voucher holders seek housing.
The ZIP code has a relatively low percentage of renters at 11.4%, indicating a smaller pool of tenants looking for rental properties. Given the total population of 1,578, this translates to approximately 180 renters in the area. The affordability gap suggests that landlords might face less competition from other property owners, as many residents may prefer homeownership over renting. However, the presence of voucher holders could increase competition among landlords willing to accept vouchers, as these tenants would be able to afford the higher FMR rates.
For landlords considering their strategy, the data implies that accepting Section 8 vouchers could be advantageous. Although the number of renters is modest, the guaranteed income from vouchers, set at $970, offers a stable and potentially higher revenue stream compared to the current market rate. Landlords who do not wish to participate in the voucher program should focus on attracting cash-paying tenants who can comfortably manage $865 monthly payments without government assistance.
The takeaway for landlords is clear: in ZIP 53063, where the median income is high and the rental market is somewhat limited, leveraging the higher FMR rates through voucher acceptance can provide a competitive edge and financial stability. Alternatively, focusing on the cash-paying segment of the market can still yield satisfactory returns, given the affordability of current market rates relative to the average household income.
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.