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 53278, located within the Milwaukee-Waukesha, WI MSA, presents unique characteristics when compared to other ZIP codes in the metro area. The Fair Market Rent (FMR) for ZIP 53278 is set at $1140 for fiscal year 2024, which is a key figure for landlords and small-portfolio investors interested in Section 8 properties.
In the context of the Milwaukee-Waukesha MSA, where typical market rents and home values are generally higher and more varied, ZIP 53278 stands out due to its lower FMR. This suggests that it might be considered a value pocket within the larger metro area, especially if we consider that the FMR is typically below the average market rent in the same region.
The lack of data on market rent, home value, and renter share for ZIP 53278 makes direct comparisons challenging. However, the absence of market rent data could imply that rental properties in this ZIP are less common or less tracked compared to others in the MSA. Similarly, the lack of home value data might indicate that this ZIP has fewer owner-occupied homes, potentially favoring rentals.
A ZIP code with a significant renter share but lower home values can indeed signal a favorable location for Section 8 properties. Although the exact percentage of renters in ZIP 53278 is not available, the combination of a defined FMR and the absence of other typical real estate metrics suggests a strong rental presence, likely dominated by subsidized housing options.
To summarize, ZIP 53278 appears to be a value pocket within the Milwaukee-Waukesha MSA, given its FMR of $1140. This lower FMR, combined with the limited availability of other real estate data, points towards an environment heavily reliant on rental properties, particularly those supported by Section 8 subsidies. For investors looking to capitalize on affordable housing opportunities, this ZIP code offers a focused investment opportunity.
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.