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 | $1,220 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,310 | $169,866 | 0.77% | D |
| 2BR | $1,560 | $336,232 | 0.46% | F |
| 3BR | $1,920 | $491,694 | 0.39% | F |
| 4BR | $2,050 | $603,702 | 0.34% | F |
| 5BR | $2,378 | $754,298 | 0.32% | F |
U.S. Census Bureau data (2024)
1440 is the Fair Market Rent (FMR) for ZIP 53211 in Shorewood, WI, for fiscal year 2024, indicating the maximum amount Section 8 vouchers can cover for a two-bedroom unit. 1695 is the Zillow Observed Rent Index (ZORI), which represents the average market rent for the same area, showing that landlords participating in Section 8 could see a slight decrease in rental income compared to market rates. 517,358 is the median home value in Shorewood, suggesting that property values are relatively high, but this does not necessarily translate to higher rental costs. 59.9 is the percentage of the population that are renters, a significant portion that underscores the demand for rental properties in the area. 75,256 is the median income in ZIP 53211, which is important for understanding the financial capacity of potential tenants. N/A indicates that there is no available data on the days on market (DOM) for properties, which might suggest a stable housing market without significant fluctuations in listing times. 0.1 is the percentage of listings that have been price-cut, the lowest possible figure, implying that sellers are generally able to achieve their asking prices without having to lower them.
The combination of these figures suggests that while the median home value and median income are high, the actual rental market is somewhat competitive with a substantial renter base. The low price-cut share and lack of data on DOM indicate a stable and possibly seller-friendly market. However, the gap between the FMR at 1440 and the ZORI at 1695 means that landlords may need to consider whether they are willing to accept slightly lower rents to participate in the Section 8 program. Given the strong tenant demand and stable property values, it appears that Section 8 participation could be beneficial for landlords seeking consistent tenancy and predictable income. Verdict: Section 8 is a viable option for landlords in Shorewood, WI, with moderate adjustments to expected rental income.
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.