Location: Milwaukee-Waukesha, WI | Metro: Milwaukee-Waukesha, 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 | $1,010 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,600 | $457,844 | 0.35% | F |
U.S. Census Bureau data (2024)
The ZIP code 53153, located within the Milwaukee-Waukesha, WI MSA, presents a unique opportunity for Section 8 real-estate investors. The HUD Fair Market Rent (FMR) for this area in fiscal year 2024 is set at $1120 per month, which is notably lower than the market rent of $1304 as reported by the Census ACS. This discrepancy means that landlords accepting Section 8 vouchers will experience marginal cash flow at the HUD FMR rates. However, with premium units, the cash flow can be significantly improved.
To further analyze the investment potential, consider the median home value in ZIP 53153, which stands at $495,749. The rent-to-price ratio calculated from these figures is approximately 0.26%, indicating that rental income represents a small fraction of the property's total value. This metric suggests that the primary benefit of investing in this area may come from property appreciation rather than high rental yields.
The dynamics between renting and buying in this market are also important. With the median days on market (DOM) being N/A and the percentage of homes that had their prices cut being N/A%, it indicates a stable housing market where neither buyers nor sellers are experiencing significant pressure to adjust prices. This stability is beneficial for long-term investments, ensuring that property values remain consistent over time.
The strongest investor angle in ZIP 53153 is likely to be appreciation. Given the relatively low FMR compared to market rents and the high median home value, investors can expect their properties to increase in value over time, providing a solid return on investment beyond just rental income.
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.