Location: Walworth County, WI | Metro: Jefferson 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 | $750 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,380 | $369,118 | 0.37% | F |
U.S. Census Bureau data (2024)
The ZIP code 53156 has a population of 3,232 residents, with 20.8% being renters. The median household income in this area stands at $85,313. This indicates that while there is a significant portion of renters, the overall tenant pool may not be heavily reliant on Section 8 vouchers due to the relatively high median income.
The current market rent in this ZIP is $778, which represents approximately 9.1% of the median household income. This suggests that the typical rent is quite manageable for most households in the area, making it less likely that a deep voucher demand exists here. In comparison, the Fair Market Rent (FMR) for the metro area is set at $1,070 (for FY 2026), which is higher than the actual market rent, indicating that the market rent is below the FMR threshold.
A landlord in ZIP 53156 can expect tenants who are financially stable and capable of paying market rent without relying heavily on government assistance. While some tenants may use Section 8 vouchers, the majority are likely to be individuals or families who can afford the rent out of their own pockets. Given the income levels, these tenants would typically allocate a reasonable but not excessive portion of their income towards housing costs.
To conclude, ZIP 53156 is better characterized as an area with a moderate number of renters rather than one dominated by homeowners. However, the depth of voucher demand is limited, as evidenced by the high median income relative to the market rent. Landlords should prepare for a mix of tenants, with a focus on those who are financially independent and can afford the rent comfortably.
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.