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 | $930 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $151,393 | 0.8% | D |
| 3BR | $1,490 | $179,812 | 0.83% | C |
| 4BR | $1,610 | $179,937 | 0.89% | C |
| 5BR | $1,868 | $177,648 | 1.05% | B |
U.S. Census Bureau data (2024)
The ZIP code 53210 in Milwaukee, WI, is predominantly a renter-heavy area, with 60.4% of its population renting homes. This high percentage of renters indicates a strong potential for Section 8 voucher holders in the market. The total population of the ZIP is 23,922, providing a substantial base for rental demand.
The median household income in this ZIP is $48,217, which is relatively low compared to national averages. Considering the typical market rent of $1,130, it represents approximately 23.4% of the median household income. This means that a significant portion of the local residents' income would be allocated towards rent, making affordable housing options crucial.
When comparing the market rent to the Fair Market Rent (FMR), which is set at $1,080 for FY 2024, there's a slight discrepancy. The actual market rent is higher than the FMR, indicating that landlords might face some challenges in finding tenants willing to pay the full market rate without financial assistance.
In this context, landlords in ZIP 53210 should anticipate a tenant pool heavily reliant on Section 8 vouchers. These tenants will be looking for units that match or are below the FMR threshold to ensure their rent subsidies cover the cost of living. It is essential for landlords to familiarize themselves with the Section 8 program and its requirements to effectively manage properties in this area.
To summarize, ZIP 53210 presents itself as an ideal location for landlords interested in serving a large number of renters, particularly those utilizing Section 8 vouchers. Given the income levels and the cost of living, tenants will likely seek out affordable housing options, making properties that align with or slightly exceed the FMR attractive to this demographic.
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.