Location: Milwaukee-Waukesha, WI | Metro: Milwaukee-Waukesha, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
ZIP code 53234, located within the Milwaukee-Waukesha, WI MSA, has a Fair Market Rent (FMR) of $1140 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors operating under the Section 8 program.
To understand where 53234 stands relative to other ZIP codes in the Milwaukee-Waukesha MSA, we must first establish a context based on available data. The lack of specific market rent and home value data for 53234 means we cannot directly compare these metrics to other ZIP codes in the area. However, we can infer its position within the metro using the FMR as a benchmark.
The Milwaukee-Waukesha MSA typically sees a range of FMRs that reflect the diversity of housing markets across different neighborhoods. An FMR of $1140 suggests that 53234 falls into a mid-tier category, neither representing the most affordable nor the most expensive areas within the metro. This indicates that it is likely a stable neighborhood, offering reasonable rental rates for both tenants and landlords.
The absence of specific data on market rent, home values, and renter share percentages for 53234 prevents us from making definitive statements about its status as a value pocket or premium sub-market. However, if we were to observe a scenario where 53234 had a high renter share percentage alongside lower-than-average home values, this would signal a potentially attractive area for Section 8 participation. Such a combination often points to a sweet spot for landlords who wish to benefit from the program's steady income stream.
In conclusion, while ZIP code 53234 appears to be a mid-tier neighborhood within the Milwaukee-Waukesha MSA based on its FMR, the lack of comprehensive market data makes it challenging to classify it definitively. Landlords and investors should consider additional research to fully assess the potential of this ZIP code for their portfolios.
Data Sources: FMR data from HUD (2027).
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.