Location: Racine-Mount Pleasant, WI | Metro: Racine-Mount Pleasant, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
The ZIP code 53138 is located in Honey Creek, Wisconsin, and is classified as a PO Box ZIP code, which means it is not typically populated by residents. Due to this classification, there is no available population data, making it challenging to determine the exact percentage of renters or the median income and home values of the area.
Moving onto the rent economics, the Fair Market Rent (FMR) for ZIP 53138 is set at $1090 for fiscal year 2024. However, specific market rent figures are not provided, which could be due to the lack of residential properties in the area. This suggests that the ZIP code might not be a typical residential area where traditional rental markets operate.
Given the nature of ZIP 53138 being primarily a PO Box ZIP code, it is unlikely to fit the profile of a hands-off voucher operator or a hands-on value-add buyer. Investors looking to manage properties through Section 8 vouchers or seeking opportunities to improve and increase property values would find limited applicability here. The absence of residential data implies that the area does not support a significant number of tenants or homeowners, thus making it unsuitable for real estate investments focused on residential rentals.
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.