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 |
The ZIP code 53792 stands as a market in motion, with clear signals pointing towards the dynamics at play. The Fair Market Rent (FMR) for the area, set at $1370 for the fiscal year 2024, provides a benchmark for rental pricing that reflects the local housing market's current state. However, the lack of data on market rent and the percentage of price-cut share indicates a potential gap between reported fair rents and actual market conditions, suggesting either a lack of comprehensive data or a market that is still evolving.
The absence of days on market (DOM) and median home value data further complicates the picture but does hint at an opaque residential market. This could mean that the housing stock in ZIP 53792 is less frequently traded, possibly due to limited listings or a specialized housing type that doesn't fit typical market analysis metrics. For landlords and small-portfolio investors, understanding these nuances is critical for making informed decisions.
The N/A% renter share, while not providing a specific figure, suggests that there is significant long-term housing pressure in the area. In markets where the renter share is high, it often signifies a trend towards higher occupancy rates and potentially lower vacancy rates. Conversely, a low renter share might indicate a preference for homeownership, which can affect the overall demand for rental properties. Without a specific percentage, we cannot conclusively determine the direction of this pressure, but the implication is that rental demand is a key factor in the ZIP code's housing landscape.
In summary, ZIP 53792 presents a market characterized by known fair market rents but with incomplete data on other crucial metrics. This suggests a dynamic environment where the interplay between supply and demand is not fully captured by standard measures, making it a complex yet potentially rewarding area for those willing to delve deeper into its unique characteristics.
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.