Location: Kenosha, WI | Metro: Kenosha, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,370 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,690 |
| 5 Bedrooms | $3,120 |
| 6 Bedrooms | $3,494 |
| 7 Bedrooms | $3,774 |
| 8 Bedrooms | $3,963 |
U.S. Census Bureau data (2024)
ZIP code 53158, located in Pleasant Prairie, WI, falls within the broader Kenosha, WI MSA metro area. Its Fair Market Rent (FMR) for 2024 is set at $1,720, which is notably higher than the market rent of $1,575. This suggests that the area might be slightly overvalued in terms of rental subsidies compared to the actual market conditions. The median home value of $446,899 places it below the average home values seen in many other ZIP codes within the Kenosha MSA, indicating that it could be considered a more affordable option for both homeowners and renters.
The renter share in ZIP 53158 stands at 29.6%, which is relatively high compared to typical ZIP codes within the Kenosha MSA. High renter shares can indicate a strong demand for rental properties, potentially making it an attractive location for landlords. However, the combination of a below-average home value and a high renter share could suggest that the area is particularly appealing to those seeking affordable housing options, including tenants who might benefit from Section 8 vouchers.
Based on these figures, ZIP 53158 appears to be a value pocket within the Kenosha MSA. The lower home values and higher-than-average renter share make it a prime location for landlords looking to maximize their investment returns through Section 8 participation. Additionally, the gap between the FMR and market rent could provide opportunities for landlords to offer competitive rents while still benefiting from higher subsidy levels.
Data Sources: FMR data from HUD (2027). 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.