Location: Walworth County, WI | Metro: Walworth County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The ZIP code 53195 presents an interesting scenario when viewed from a renter's perspective. The median household income here is $95,833, which is significantly higher than the national average. However, the absence of data on market rate rents makes it challenging to assess whether households can afford typical rental costs in this area.
Despite this lack of information, we can compare the median income to the Fair Market Rent (FMR) standard set for voucher payments, which is $1,070 per month for the metro area in fiscal year 2026. This figure suggests that even with a relatively high median income, renters might still find value in utilizing housing vouchers to offset their monthly expenses.
The ZIP code has a low percentage of renters at just 2.5%, indicating a primarily owner-occupied community. With a total population of 133, the number of potential renters is quite limited. This small pool of renters could mean stiff competition among landlords for those who are seeking housing.
The affordability gap, therefore, is not just about the cost of renting but also about the availability of renters willing to pay market rates. Given the voucher payment standard and the limited number of renters, landlords might face challenges in finding tenants who can pay above the voucher amount without financial assistance.
Takeaway: Landlords considering their strategy should be aware of the potential benefits of accepting housing vouchers. While the median income is high, the actual number of renters is low, and the voucher payment standard represents a significant portion of the likely rental market. Accepting vouchers could ensure a steady stream of tenants, though it means adhering to government-set rent limits. For those who prefer to seek higher rents from cash-paying tenants, they must be prepared to compete within a small and potentially price-sensitive market.
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.