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 analysis of ZIP code 53587 within Lafayette County, WI reveals several key points for landlords and small-portfolio investors. Firstly, the rent math does not favorably align with the financial goals of potential investors. The Fair Market Rent (FMR) set at $970 for the fiscal year 2026 contrasts sharply with the current market rent of $767, based on Census ACS data. This indicates that landlords may struggle to achieve the desired rental income, suggesting a mismatch between government-set standards and actual market conditions.
Secondly, the acquisition cost of properties in this area is relatively low, with a median home value of $223,937. However, the lack of available data on the average number of days on market (DOM) and the percentage of homes needing price cuts to sell means that the ease of acquiring these homes cannot be fully assessed. Investors should proceed with caution and seek additional local insights to understand the dynamics of property acquisition in this ZIP code.
Finally, regarding tenant demand, the ZIP code has a total population of 1,177, with a modest 17.2% of residents being renters. This suggests that while there is a presence of renters, their numbers are limited, potentially leading to a smaller pool of prospective tenants. Given the small population size and the relatively low renter share, it's important for landlords to consider the competitive landscape and the ability to attract and retain tenants.
In conclusion, ZIP 53587 presents challenges in terms of achieving favorable rental income and ensuring a steady stream of tenants. The low median home value offers an opportunity for affordable acquisitions, but the mismatch between FMR and market rents, along with the limited renter population, implies that this area may not be the most profitable for investment. Landlords and investors must weigh these factors carefully before committing to this market.
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.