Location: Walworth County, WI | Metro: Walworth County, WI
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 | $860 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $265,015 | 0.47% | F |
| 3BR | $1,550 | $364,242 | 0.43% | F |
| 4BR | $2,040 | $467,599 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 53115, located in Delavan, WI, within the Walworth County, WI metro, presents an interesting profile when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for the area in fiscal year 2026 is set at $1,140, while the market rent is slightly lower at $1,072. This indicates that the rental market in 53115 is closely aligned with the government's assessment of fair rent, suggesting stability and possibly a lack of significant rental price inflation.
The median home value in ZIP 53115 is $335,596, which is likely representative of the overall housing market conditions in Walworth County. However, what stands out is the 30.0% share of renters in the area, which is notably higher than the average for Walworth County. Typically, a higher renter share can indicate a greater presence of tenants eligible for Section 8 assistance, given that many participants in this program are renters.
The combination of a below-metro FMR and a higher-than-average renter share suggests that 53115 could be considered a value pocket for landlords and small-portfolio investors. This is because properties in this ZIP might attract a larger number of potential Section 8 tenants without requiring landlords to charge significantly above the market rate. The lower market rent compared to the FMR also implies that there is a segment of the market where rents are affordable, making it easier for Section 8 participants to find suitable accommodation.
In summary, ZIP 53115 appears to offer a balance between manageable property values and a higher concentration of potential Section 8 tenants, positioning it as a favorable area for those looking to invest in or manage rental properties within the Walworth County, WI metro. This makes it a particularly attractive option for landlords seeking to participate in the Section 8 program without the risk of overpriced properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.