Location: Green County, WI | Metro: Madison, WI HUD Metro FMR Area
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 | $1,150 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,530 | $293,433 | 0.52% | F |
| 3BR | $2,020 | $403,100 | 0.5% | F |
| 4BR | $2,260 | $492,231 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 53508 in Belleville, WI, presents an interesting balance between yield and stability for real estate investments. The Fair Market Rent (FMR) for 2024 is projected at $1,250, which is notably higher than the current market rent of $918. This discrepancy suggests a potential for increasing rental yields if the FMR projections hold true. Additionally, the median home value of $432,914 provides a solid base for property appreciation over time.
On the stability front, the ZIP code has a relatively low percentage of renters at 13.5%, indicating that the majority of residents are homeowners. This could mean less demand for rental properties, but it also implies a more stable housing market overall. However, the lack of data on days on market (DOM) and the median household income of $99,948 provide limited insight into the immediate rental demand and the ability of tenants to afford higher rents. Given the income figure, there is a reasonable expectation that some households can support the projected FMR.
To classify this ZIP code, it leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. While the potential yield is attractive due to the gap between the FMR and current market rent, the low renter percentage and moderate income levels suggest that achieving these higher rents might be challenging without significant improvements or upgrades to properties. Landlords and small-portfolio investors should focus on properties that offer good value and can attract tenants willing to pay closer to the FMR, thereby balancing yield with stability.
Investors should consider the following factors:
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.