Location: Kenosha, 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 | $1,070 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,080 | $175,495 | 0.62% | D |
| 2BR | $1,360 | $240,625 | 0.57% | F |
| 3BR | $1,850 | $276,612 | 0.67% | D |
| 4BR | $2,100 | $263,565 | 0.8% | D |
| 5BR | $2,436 | $272,539 | 0.89% | C |
U.S. Census Bureau data (2024)
A household in ZIP 53140, located in Kenosha, WI, faces significant challenges in affording the market rate rent. The median income stands at $58,006, while the market rate for rent (ZORI) is $1,562 per month. This makes it difficult for average residents to cover their housing costs without financial strain.
In contrast, the Housing Choice Voucher program offers a more affordable option. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $1,310. This means that households receiving vouchers can find suitable housing within their budget, reducing the burden on their monthly income.
The area has a substantial rental market, with 47.7% of the 30,238 population being renters. Given the disparity between median income and market rent, the affordability gap is likely to influence competition among landlords. Landlords who accept vouchers will have access to a steady stream of tenants, albeit at lower rates compared to market rents.
For landlords considering their strategy, accepting vouchers can ensure consistent occupancy and stable cash flow, despite the lower rent amount. However, focusing solely on cash-paying tenants might lead to vacancies due to the high cost of living relative to income levels. A balanced approach, offering a mix of both voucher and market-rate units, could be the most effective way to navigate the local rental landscape.
Ultimately, landlords in ZIP 53140 must weigh the benefits of higher market-rate rents against the security of guaranteed voucher payments and the reality of an affordability gap that could impact tenant availability. Accepting vouchers at $1,310 can be a strategic move to maintain occupancy rates and avoid prolonged vacancies.
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.