Location: Marquette County, WI | Metro: Green Lake County, WI
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 | $740 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $228,698 | 0.45% | F |
| 3BR | $1,310 | $310,479 | 0.42% | F |
U.S. Census Bureau data (2024)
ZIP 53949, located in Montello, WI, within Marquette County's metro area, is best suited as an appreciation play in a Section 8 portfolio strategy. The key indicator supporting this classification is the low price-cut share of 0.2%, which suggests that property values here are relatively stable and less prone to significant downward adjustments. Additionally, the day DOM (Days on Market) being listed as N/A implies that homes in this area sell quickly, without extended periods of listing that can often lead to price reductions.
The spread between the Fair Market Rent (FMR) for the metro area in fiscal year 2026, at $970, and the current market rent of $761, further underscores the potential for appreciation. This discrepancy indicates that rental prices could rise to meet the FMR, increasing the cash flow for properties over time. However, this spread also highlights the importance of understanding the local rental market dynamics, as it suggests that current rents are below what might be expected based on broader regional benchmarks.
While the median home value of $256,847 might seem high relative to the market rent, it's important to note that this figure does not directly impact the viability of a Section 8 investment. Instead, the focus should be on the potential for rental rates to increase and the stability of property values, which both support the appreciation play thesis.
The 17.8% renter share and median income of $64,611 provide additional context but do not significantly influence the primary categorization of this ZIP code as an appreciation play. These figures suggest that while there is a moderate level of renters, the majority of residents own their homes, and the income levels are sufficient to support housing costs without undue financial strain.
In summary, ZIP 53949 is best positioned as an appreciation play within a Section 8 portfolio due to its stable property values, quick sales, and the potential for rental rates to rise towards the FMR. Landlords and small-portfolio investors should consider this area for investments aimed at capital growth rather than immediate high cash flow.
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.