Location: Iowa County, WI | Metro: Iowa County, WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
The ZIP code 53503 stands out due to its unique mix of demographics and housing economics. With only 2,057 residents, it is a small community where 16.7% of the population rents their homes. The median income here is relatively high at $87,361, indicating that most residents have a comfortable financial standing. However, the median home value is significantly higher at $332,108, suggesting that homeownership is quite expensive compared to other areas.
When it comes to voucher economics, the Fair Market Rent (FMR) for ZIP 53503 in fiscal year 2024 is set at $1,060, which is slightly above the market rate of $1,049 as reported by the Census Bureau's American Community Survey. This means that landlords who accept Section 8 vouchers can expect to receive a rent subsidy that aligns closely with the local rental market, providing a stable income source despite the overall high cost of living and housing in the area.
The data signature for ZIP 53503 reads as stable. Despite the high median home value, the relatively high median income supports a healthy economic environment where residents can afford housing costs. The slight premium in FMR over the market rate ensures that landlords are adequately compensated, making it a favorable situation for those willing to participate in the Section 8 program. Given these factors, landlords and small-portfolio investors should find this ZIP code to be a consistent and reliable market for both ownership and rental 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.