Location: Sheboygan, WI | Metro: Sheboygan, 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 | $910 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $218,232 | 0.6% | F |
| 3BR | $1,550 | $303,898 | 0.51% | F |
| 4BR | $1,750 | $373,076 | 0.47% | F |
| 5BR | $2,030 | $427,824 | 0.47% | F |
U.S. Census Bureau data (2024)
The ZIP code 53083, located in Sheboygan, WI, presents a dynamic rental market that reflects a balance between supply and demand. The Fair Market Rent (FMR) for the area is set at $1040 for fiscal year 2024, closely aligning with the Census American Community Survey (ACS) reported market rent of $1,052. This suggests that the rental market is stable and reflective of broader economic conditions.
A key indicator of market health is the price-cut share, which stands at a minimal 0.2%. This figure implies that landlords rarely need to reduce their asking prices to attract tenants, indicating a strong tenant demand relative to the number of available units. The median home value in the area is $327,674, providing insight into the overall economic status of homeowners and potentially influencing the rental market.
The 26.3% renter share in ZIP 53083 highlights a significant portion of the population choosing to rent rather than buy. This trend suggests ongoing long-term housing pressure, as a substantial number of residents opt for rental properties over homeownership. Such a high renter share can be indicative of several factors including affordability issues, transient populations, or individuals preferring the flexibility of renting.
The lack of days on market (DOM) data for vacant rental units could imply either a highly efficient local real estate market or a scarcity of such data. Given the low price-cut share and the proximity of FMR to market rents, it's reasonable to infer that the market is tight, with units moving quickly once listed. This scenario supports the notion that demand for rentals is robust, possibly keeping pace with or slightly exceeding the supply.
In conclusion, ZIP 53083 exhibits characteristics of a rental market where demand is strong, and supply is well-matched. Landlords and small-portfolio investors should find the environment conducive to maintaining steady occupancy rates and rents, provided they stay attuned to the local economic trends and the preferences of potential renters.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.