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 | $990 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,270 | $248,179 | 0.51% | F |
| 3BR | $1,560 | $352,874 | 0.44% | F |
| 4BR | $1,670 | $405,277 | 0.41% | F |
U.S. Census Bureau data (2024)
The ZIP code 53090, located in West Bend, WI, has a population of 21,625 residents, with 23.0% being renters. This indicates that the area is moderately renter-heavy, though not dominated by renters. The median household income stands at $86,152, which provides a baseline for assessing the affordability of housing in the area.
The market rent for ZIP 53090 is $1,164, representing approximately 13.5% of the median household income. This figure suggests that the average rent is relatively affordable for most households in the area. However, it also points to a scenario where there might be a significant portion of the population who would benefit from rental assistance programs such as Section 8 vouchers.
The Fair Market Rent (FMR) for the area, as set for FY 2024, is $1,200, slightly higher than the current market rent. This difference can influence the number of tenants who qualify for Section 8 vouchers, as the eligibility criteria often depend on the FMR. Given the close proximity of the market rent to the FMR, landlords in ZIP 53090 can expect a reasonable level of voucher demand, but not an overwhelming one.
A landlord in West Bend should anticipate a tenant pool that includes a mix of individuals and families seeking affordable housing options. The presence of Section 8 vouchers will attract tenants whose income is less than 50% of the median income, typically earning around $43,076 or less. These tenants will rely on government assistance to cover their rent, making up a significant portion of the potential rental market.
In summary, ZIP 53090 offers a balanced environment for landlords and small-portfolio investors, with a moderate level of renter activity and a notable demand for Section 8 vouchers. The typical rent consumes a manageable portion of the local income, indicating a stable rental market where tenants are likely to be responsible and seek long-term housing solutions.
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.