Location: Green County, WI | Metro: Green County, WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP code 53550 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $940, while the Census American Community Survey (ACS) indicates that the market rent stands at $979. This means there is a $39 difference, representing approximately a 4.15% gap between the two figures.
Given that the FMR is lower than the market rent, landlords and small-portfolio investors should be aware of the financial implications when accepting Section 8 vouchers. The cost of housing voucher tenants below open-market rates can be substantial. At an FMR of $940, landlords are receiving less than the $979 that the market dictates, leading to a potential loss of income per unit. Over a year, this discrepancy amounts to a loss of $468 per unit, which can significantly impact overall portfolio yields.
In ZIP 53550, where 21.8% of residents are renters, and the median household income is $73,438, the decision to accept Section 8 vouchers must be weighed against the potential for higher rental income. While the median home value is not available, the income level suggests that residents have the financial capacity to afford market rents. Therefore, landlords might consider strategies to attract non-voucher tenants who can pay the full market rate, thereby maximizing their rental income and improving portfolio performance.
To summarize, the gap between the FMR and market rent in ZIP 53550 presents a challenge for landlords accepting Section 8 vouchers. The $39 difference, or 4.15%, highlights the need for careful consideration of tenant selection to ensure optimal financial returns.
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.