Location: Dodge County, WI | Metro: Columbia 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 | $1,000 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,990 | $360,638 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 53932 in Dodge County, WI, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. This classification is based on the favorable financial metrics that support stable and predictable rental income.
In fiscal year 2024, the Fair Market Rent (FMR) for ZIP 53932 is set at $1370, which is significantly higher than the average market rent of $1,174. This creates a positive spread of $196 per unit, ensuring that properties within this ZIP code will generate above-market rental income when leased through the Section 8 program. The higher guaranteed rental income helps mitigate risks associated with market fluctuations and provides a reliable source of cash flow.
Additionally, the median home value in ZIP 53932 stands at $353,705. While this figure is relatively high compared to some other areas, it does not necessarily impact the attractiveness of the ZIP code as a cash-flow anchor. Landlords can still leverage the above-market rents provided by the Section 8 program to ensure steady returns on their investments.
ZIP 53932 is not particularly suited as an appreciation play due to the lack of data indicating significant price-cut shares or days on market (DOM). Without these metrics, it's difficult to predict substantial capital gains from property appreciation in this area.
Nor does ZIP 53932 serve as a primary diversifier, despite having a 23.9% renter share and a median income of $85,781. These figures suggest a moderate level of rental demand but do not indicate a high volatility or risk that would necessitate diversification. Instead, they point towards a stable tenant base with adequate financial means to sustain rental payments.
In conclusion, ZIP 53932 should be considered a cash-flow anchor within a Section 8 portfolio strategy, given the $196 spread between the FMR and market rent. This ensures that landlords and small-portfolio investors can rely on consistent and above-average rental income, thereby stabilizing their overall investment performance.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.