Location: Dodge County, WI | Metro: Milwaukee-Waukesha, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 53091 in Dodge County, Wisconsin reveals several key points regarding its suitability for Section 8 landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 53091 in fiscal year 2024 is set at $990, which is higher than the market rent of $890 as reported by the Census American Community Survey (ACS). This means that landlords participating in the Section 8 program can expect to receive a rental subsidy that bridges the gap between the lower market rent and the higher FMR. Therefore, the rent math does work in favor of landlords, ensuring they are compensated at a rate above the local market average.
Regarding the affordability of acquisitions, the median home value in ZIP 53091 stands at $350,172. Unfortunately, the data on the number of days on market (DOM) and the percentage of homes requiring price cuts is not available. However, the median home value suggests that property acquisition costs are moderate, potentially offering good value for investment given the favorable rent math conditions.
The third point concerns tenant demand. With a total population of 2,123, 18.1% of residents are renters. This indicates a modest but present demand for rental properties. While the renter share is not exceptionally high, it still represents a significant portion of the population, suggesting that there is a reasonable base of potential tenants who could benefit from Section 8 housing.
In conclusion, ZIP 53091 presents a viable opportunity for Section 8 landlords and small-portfolio investors due to the favorable rent math where the FMR exceeds the market rent, providing a financial cushion. The median home value offers a moderate cost for property acquisition, and while detailed information on DOM and price-cut shares is lacking, the presence of a steady 18.1% renter share ensures a consistent demand for rental units. Landlords should be aware of the limited availability of certain metrics but can confidently pursue investments in this area based on the positive financial outlook and existing tenant base.
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.