Location: Lafayette County, WI | Metro: Grant County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
The ZIP code 53811 presents several challenges for potential Section 8 landlords. Tenant turnover is a significant concern, with the market rent at $930 being notably lower than the Fair Market Rent (FMR) of $1,070 for the metro area in fiscal year 2026. This discrepancy suggests that tenants may be more likely to leave once they find higher-paying jobs or move to more affordable housing, leading to frequent vacancies.
Vacancy exposure is another issue. The days on market (DOM) for properties in this area is currently unknown, which makes it difficult to predict how long a property might remain vacant between tenants. This uncertainty can lead to financial strain for landlords who rely on consistent rental income.
Deferred maintenance is also a risk factor. With an average home value of $265,423 and a median household income of $82,769, many residents may struggle to afford necessary repairs and improvements. This could result in properties deteriorating over time if landlords do not proactively address maintenance issues.
However, these risks must be weighed against the high proportion of renters in the area. The renter share stands at 30.7%, indicating a robust demand for rental housing. In such a scenario, there is likely to be a strong interest in Section 8 vouchers, which can provide a steady stream of qualified tenants. The high renter density often translates into a larger pool of potential voucher holders, reducing the likelihood of extended vacancy periods.
In conclusion, despite the challenges posed by tenant turnover, vacancy exposure, and deferred maintenance, the high renter density in ZIP 53811 suggests a moderate risk for a first-time Section 8 landlord. While there are risks involved, the potential benefits of a stable tenant base through voucher programs make it a viable option for cautious investors.
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.