Location: Kenosha, WI | Metro: Kenosha, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,230 |
| 5 Bedrooms | $2,587 |
| 6 Bedrooms | $2,897 |
| 7 Bedrooms | $3,129 |
| 8 Bedrooms | $3,285 |
The market analysis for Section 8 investors targeting ZIP code 53101 in Kenosha, WI, reveals a competitive rental environment. The Fair Market Rent (FMR) as determined by HUD for this area in fiscal year 2024 is set at $1400. However, without specific data on the current market rent, it's challenging to provide a precise comparison. Given the FMR figure, voucher tenants in ZIP 53101 would generally cashflow at the $1400 rate, assuming that the market rent does not significantly exceed this amount.
The median home value in ZIP 53101 is not available, which makes deriving an exact rent-to-price ratio difficult. Nonetheless, understanding this ratio is crucial for assessing whether renting or buying is more advantageous for potential residents. A high rent-to-price ratio might indicate that buying is less favorable compared to renting, especially for those relying on Section 8 vouchers. Conversely, a low ratio could suggest that buying homes in the area could be a financially prudent decision.
The number of days on market (DOM) and the percentage of homes that experience price cuts before selling are also not provided. These metrics can offer insight into the local housing market's health and turnover rate, affecting both rental and home purchase decisions. If these figures were available, they would help in understanding how quickly properties are being rented out versus sold, and the extent to which sellers need to adjust their asking prices to attract buyers.
In conclusion, while specific market rent data is lacking, the FMR of $1400 suggests that voucher tenants would typically achieve positive cash flow in ZIP 53101. This makes the area attractive for investors seeking stable cash flow opportunities. Stability remains the strongest investor angle in this market due to the predictability of government-subsidized rents.
Data Sources: FMR data from HUD (2027).
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.