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 | $940 |
| 1 Bedroom | $1,020 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $260,488 | 0.46% | F |
| 3BR | $1,490 | $371,992 | 0.4% | F |
| 4BR | $1,610 | $461,901 | 0.35% | F |
U.S. Census Bureau data (2024)
The rental market in ZIP 53095, located in West Bend, WI, presents an interesting scenario for both tenants and landlords. The median income in the area stands at $80,830, which provides a baseline for evaluating the affordability of the $1,078 market rate rent (ZORI).
To assess whether a household can comfortably afford this rent, it's essential to consider the financial burden such costs would impose. Typically, housing expenses should not exceed 30% of a household's income. At $1,078 per month, the annual cost comes to $12,936, representing approximately 16% of the median income. This suggests that the market rate rent is manageable for most households earning the median income.
However, the situation changes when comparing the market rate to the Federal Market Rent (FMR) for ZIP 53095, which is set at $1,070 for fiscal year 2024. This FMR serves as the benchmark for Section 8 voucher payments, meaning that landlords who accept vouchers will receive slightly less than the market rate for similar properties.
The ZIP code has a population of 27,817, with 29.0% of residents being renters. This indicates a significant portion of the community relies on rental housing, creating a competitive environment for landlords. The affordability gap between the ZORI and the FMR is minimal but present, suggesting that landlords might find a slight advantage in renting to non-voucher holders due to the higher potential revenue.
For landlords considering their strategy, the takeaway is clear. While the difference between the ZORI and FMR is only $8 per month, it amounts to a substantial $96 annually. Given the slight edge in income, landlords may prefer cash-paying tenants over those with vouchers. However, the decision should also factor in the stability and reliability that voucher programs offer, as well as any local demand trends.
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.