Location: Kenosha, WI | Metro: Kenosha, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
U.S. Census Bureau data (2024)
The Section 8 analysis for ZIP code 53192 is based on the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $1420. However, the current market rent for the area is listed as N/A, indicating that there is no readily available data on what the typical rental rate is. This lack of information makes it challenging to provide an exact percentage gap between the FMR and the market rent.
In the absence of market rent data, we can infer that if the FMR exceeds the typical market rent, landlords would find it advantageous to accept Section 8 tenants because they could potentially receive higher rents than what the market currently offers. This scenario transforms the property into a yield play, where landlords benefit financially from the government's subsidy. The guaranteed income from the voucher program ensures steady cash flow, which is particularly appealing in areas with low rental activity, such as the 0.9% of residents who are renters in ZIP 53192.
If the FMR were lower than the market rent, accepting Section 8 tenants would mean renting properties below the open-market rates. This situation would be less favorable for landlords as they might have to forego potential higher rental incomes. In such a case, landlords would need to consider the trade-offs between the stability of Section 8 payments and the possibility of achieving higher yields through market-rate rentals.
Despite the limited data on median home values and median income in ZIP 53192, the FMR provides a critical benchmark for understanding the financial landscape of the area. Landlords should use this information to make informed decisions about their rental strategies, considering both the economic conditions and the benefits or drawbacks of participating in the Section 8 program.
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.