Location: Milwaukee-Waukesha, WI | Metro: Milwaukee-Waukesha, WI MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,750 | $549,027 | 0.32% | F |
| 4BR | $1,870 | $664,994 | 0.28% | F |
U.S. Census Bureau data (2024)
The ZIP code 53076 has a population of 3,109 individuals, with only 9.6% of them being renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for rental properties, especially those supported by Section 8 vouchers, is likely to be lower compared to areas with higher percentages of renters.
The median household income in this ZIP code is $107,414. Given that there is no specific data on the market rent for this area, we cannot provide an exact percentage of how much of the local income goes towards typical rent. However, the Fair Market Rent (FMR) for ZIP 53076 is set at $1,310 for fiscal year 2024, which represents the maximum amount that can be charged to tenants participating in the Section 8 program.
To put this into perspective, if the typical market rent were to align closely with the FMR, it would consume approximately 12.2% of the median household income. This is calculated by taking the FMR of $1,310 and dividing it by the median income of $107,414, then multiplying by 12 months to annualize the rent figure. The result shows that even at the FMR level, rent is a relatively small portion of the income for residents in this area.
Landlords in ZIP 53076 should expect a tenant pool that is less likely to rely heavily on Section 8 vouchers due to the low proportion of renters and the relatively high median income. Tenants seeking rental properties in this area are likely to have stable financial situations and may prefer higher-quality accommodations that offer amenities and features typically found in more affluent neighborhoods.
Given these factors, landlords might find it challenging to fill units exclusively through Section 8 vouchers, and they may need to consider other rental assistance programs or cater to a broader range of tenants who can afford market rates without the aid of government subsidies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.