Location: Walworth County, WI | Metro: Kenosha, 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 | $1,000 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $261,928 | 0.54% | F |
| 3BR | $1,790 | $348,033 | 0.51% | F |
| 4BR | $2,320 | $420,714 | 0.55% | F |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 housing in ZIP code 53128 in Bloomfield, WI, must be carefully weighed. One significant issue is tenant turnover, which can be costly. The market rent in this area is $1,226, while the Fair Market Rent (FMR) for fiscal year 2024 stands at $1,600. This discrepancy suggests that landlords may struggle to attract tenants willing to pay the higher FMR rate, leading to frequent turnover and associated costs.
Vacancy exposure is another concern, especially since the days on market (DOM) for rental properties in this ZIP code is not available. Without this information, it's challenging to predict how long a property might remain vacant between tenants. Given the typical home value of $320,289 and the median income of $82,216, there is also a risk of deferred maintenance. Landlords should anticipate the need for regular upkeep and repairs, as the median income may not cover unexpected expenses without careful budgeting.
However, these risks are somewhat mitigated by the high renter share of 13.0%. High renter density usually indicates a strong demand for rental housing, including Section 8 vouchers. This demand can help ensure steady occupancy and reduce the likelihood of prolonged vacancies. Additionally, the higher FMR rate can provide a buffer against the costs associated with tenant turnover and maintenance.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.