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 | $1,230 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 4BR | $2,080 | $586,861 | 0.35% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 53183, located within the Milwaukee-Waukesha, WI MSA, reveals a competitive rental environment. The HUD Fair Market Rent (FMR) for FY 2024 is set at $1,370, while the Census American Community Survey (ACS) reports a market rent of $1,322. This indicates that voucher tenants will generally cashflow at the FMR level, providing a modest buffer for landlords. However, this cashflow is marginal, suggesting that landlords might need to focus on maintaining well-maintained properties to ensure they can attract and retain tenants at the higher FMR rate.
To further contextualize these figures, consider the median home value in the area, which stands at $544,544. Using this figure, we can calculate the rent-to-price ratio. A home valued at $544,544 would generate approximately $1,370 in monthly rent based on the FMR, equating to a rent-to-price ratio of about 0.32%. This ratio is indicative of the broader housing market dynamics and suggests that rental income alone might not be sufficient to cover mortgage payments for many homeowners, thus reinforcing the importance of Section 8 vouchers for landlords looking to stabilize their cashflow.
The data does not provide specific insights into the median days on market (DOM) or the percentage of homes that required price cuts, but these metrics would be relevant to understanding the balance between renting and buying. Given the marginal cashflow scenario and the high median home value, it is likely that the buy-versus-rent decision heavily favors renting for many households. Therefore, landlords who can offer attractive, affordable rental units through the Section 8 program will have a stable tenant base.
The strongest investor angle in ZIP 53183 is stability. With a marginal cashflow at the FMR level and a robust demand for rental properties, landlords can expect consistent income streams and a steady occupancy rate, making this an ideal location for those seeking long-term, reliable returns on investment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.