Location: Lafayette County, WI | Metro: Lafayette County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 53541 is set at $970 for the fiscal year 2026. This figure represents the payment standard for Section 8 rentals, meaning it's the maximum amount the government will pay toward a tenant's rent. However, this does not mean you should charge $970; your rent can be higher, but the tenant will need to cover the difference out-of-pocket.
To put this into perspective, the average rent in ZIP 53541 is currently $750 according to recent Census Bureau data. This suggests that the FMR is slightly above the market rate, which could be beneficial if you're looking to attract tenants who might otherwise struggle to afford housing in this area.
About 19.6% of residents in this ZIP code are renters, indicating a steady demand for rental properties. With the FMR being higher than the average rent, you have an opportunity to capture a segment of the market that might not be fully served by existing rentals.
If you're considering acquiring a property for your first Section 8 rental, you'll find that the median home value in ZIP 53541 is approximately $235,418. This figure gives you a benchmark for potential purchase prices. Keep in mind that the actual cost of the property can vary widely based on condition, location, and other factors.
Before making your decision, it's crucial to verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary, and failing to meet them can result in disqualification from the program. You must ensure compliance to avoid losing out on guaranteed income from the government.
In summary, the FMR of $970 offers a clear guideline for the maximum government subsidy, while the local average rent of $750 shows where the market stands. The 19.6% renter share indicates a stable tenant pool, and the median home value of $235,418 gives you a sense of the acquisition costs. Ensure your property meets HQS to secure your place in the Section 8 program.
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.