Location: Milwaukee-Waukesha, WI | Metro: Milwaukee-Waukesha, WI MSA
| 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 |
U.S. Census Bureau data (2024)
ZIP code 53216, located in Milwaukee, WI, presents an interesting profile within the broader context of the Milwaukee-Waukesha, WI MSA. The Fair Market Rent (FMR) for 2024 in this ZIP is set at $1050, slightly below the average market rent of $1,115. This indicates that rental properties in 53216 are generally priced lower than the market rate, making it a potentially attractive area for landlords seeking to maximize their returns.
The median home value in ZIP 53216 stands at $171,135, which is notably less than the typical home value within the Milwaukee-Waukesha MSA. This suggests that 53216 could be considered a value pocket, offering opportunities for investors to acquire properties at relatively low costs compared to other areas in the metro region.
A key factor in evaluating ZIP 53216's potential for Section 8 investment is its renter share, which is quite high at 52.7%. This figure exceeds the typical renter share for ZIP codes within the Milwaukee-Waukesha MSA, indicating a strong demand for rental housing. Combined with the below-average home values, this high renter share points towards ZIP 53216 being a prime location for Section 8 tenants. Landlords here can benefit from the higher demand and potentially secure a steady stream of Section 8 vouchers.
To summarize, ZIP 53216 offers a unique combination of factors that make it stand out as a value pocket within the Milwaukee-Waukesha MSA. Its lower FMR and market rent, coupled with a high renter share and below-average home values, suggest it is well-positioned for landlords interested in Section 8 properties. While it may not be a premium sub-market due to its lower home values, the characteristics of this ZIP indicate significant potential for those looking to capitalize on the rental market dynamics specific to Section 8 investments.
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.