Location: Madison, WI | Metro: Madison, WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,270 |
| 5 Bedrooms | $2,633 |
| 6 Bedrooms | $2,949 |
| 7 Bedrooms | $3,185 |
| 8 Bedrooms | $3,344 |
1370 The Fair Market Rent (FMR) for ZIP code 53725 in Unknown, WI, for fiscal year 2024 stands at $1370. This figure represents the upper limit for rental properties participating in the Section 8 program. While the market rent data is currently unavailable, it's essential for landlords to understand that the FMR is set to ensure affordability for low-income families. Similarly, the median home value is not available, but knowing the FMR can help in setting competitive rental prices. The percentage of renters in the area is also unspecified, making it difficult to gauge the local demand for rentals. However, the median income data being unavailable suggests a lack of comprehensive economic analysis for this region, which could be crucial for understanding the financial capabilities of potential tenants. The days on market (DOM) data is not provided, indicating that there might not be enough recent sales data to accurately measure how quickly homes are selling. Additionally, the percentage of price-cut shares is not available, which typically reflects the proportion of homes that have had their asking prices reduced due to prolonged listing periods. For landlords considering participation in the Section 8 program, these data points highlight the need for careful consideration of the local housing market dynamics.
1370 To participate effectively in Section 8, landlords must ensure that their rental units meet the quality standards set by the program while also staying within the FMR guidelines. Given the lack of specific market data, it's advisable to conduct a thorough market analysis using alternative sources to determine if the $1370 FMR aligns with local rental trends. This will help in making informed decisions about whether to accept Section 8 tenants, who provide stable, government-backed rental income. The absence of detailed economic indicators makes it challenging to predict the exact profitability of Section 8 rentals in this area, but the FMR provides a solid starting point for pricing considerations. For small-portfolio investors, the decision to join the Section 8 program should be based on the ability to manage rental properties efficiently and maintain them to high standards. The verdict for ZIP code 53725 in Unknown, WI, is that while there is limited data, the Section 8 program remains a viable option for landlords willing to adhere to its requirements.
Data Sources: FMR data from HUD (2027).
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.