Location: Walworth County, WI | Metro: Janesville-Beloit, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 53585 in Walworth County, WI reveals several key points that are crucial for landlords and small-portfolio investors.
First, let's examine if the rent math works. The Fair Market Rent (FMR) for ZIP 53585 in fiscal year 2024 is set at $1070. In comparison, the market rent as per Census ACS data stands at $1,135. This indicates that landlords can expect to charge slightly above the FMR, which is a positive sign for rental income potential.
Second, we must assess the affordability of property acquisition. The median home value in ZIP 53585 is $298,667. However, due to the lack of specific data on days on market (DOM) and the percentage of homes that have had their prices cut, it's challenging to provide a definitive judgment on the ease of acquiring properties at fair prices. Despite this, the median home value suggests that properties are reasonably priced for the area.
Third, there is a notable tenant demand in the area. With a population of 2,264, 31.5% of residents are renters. This translates to approximately 711 tenants seeking housing, indicating a stable and significant demand for rental properties.
In summary, ZIP 53585 presents a viable opportunity for landlords and small-portfolio investors. The market rent exceeds the FMR, suggesting profitability. Although detailed acquisition metrics are unavailable, the median home value is reasonable. Tenant demand is strong, with over 700 residents looking for rental properties. These factors collectively indicate a promising investment environment.
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.