Location: Monroe County, WI | Metro: Vernon County, WI HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,320 | $230,731 | 0.57% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 53929 in the upcoming fiscal year 2026 is set at $990. This figure represents the payment standard that landlords can expect from the Section 8 program, not the actual rent you charge your tenants. It's important to understand that this amount is designed to cover the average rent and utilities for a modest apartment in the area.
In comparison, the local median rent as reported by the Census Bureau's American Community Survey (ACS) is $840. This means that while the FMR is higher, it still reflects the general cost of living in the region. The difference between the FMR and the local median rent indicates that landlords participating in Section 8 can reasonably expect to be paid a rate that is above the typical market price, thus ensuring a steady income stream.
The percentage of renters in ZIP 53929 is 19.2%, which suggests there is a moderate demand for rental properties in this area. While this figure is not extremely high, it does indicate that there is a segment of the population looking for affordable housing options. If you're considering entering the Section 8 market, this demand should be a positive factor.
When acquiring a property for a Section 8 rental, you might find that the average home value in this ZIP code is around $224,323. This number provides a benchmark for the investment required to enter the market. Given the FMR and the local median rent, you can calculate whether the potential rental income will justify the purchase price and any ongoing maintenance costs.
Before making the decision to participate in the Section 8 program, one critical factor to verify is the condition of the property. The Housing Quality Standards (HQS) must be met, which includes ensuring that the property is safe, decent, and sanitary. This verification step is crucial because failing to meet these standards can result in penalties or removal from the program.
To summarize, the FMR of $990 for ZIP 53929 is a key figure for landlords interested in Section 8. It is higher than the local median rent of $840, reflecting a reasonable rate for modest apartments. With a 19.2% renter share, there is a steady demand for rental properties. And with an average home value of $224,323, you have a clear idea of the investment required. Ensure the property meets HQS to avoid any issues once you're part of the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.