Location: Appleton, WI | Metro: Appleton, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 investment in ZIP code 54152 are significant and must be carefully considered before proceeding. Tenant turnover is a critical issue, as the market rent stands at $910 compared to the Fair Market Rent (FMR) of $980 for fiscal year 2024. This disparity can lead to higher turnover rates since tenants may seek properties that offer closer alignment to the FMR. Landlords should anticipate the need for frequent tenant screenings and lease renewals, which can be time-consuming and costly.
Vacancy exposure is another concern, given the lack of data on the average days on market (DOM) for rental properties in this area. Without knowing how long it typically takes to fill a vacancy, landlords cannot accurately predict their cash flow and may face periods where they receive no rental income. This uncertainty can be particularly challenging for first-time landlords who might not have reserves set aside for such contingencies.
The risk of deferred maintenance is also present. With a median income of $56,607, residents in ZIP 54152 may struggle to maintain homes at optimal levels, especially if they are already stretched financially by housing costs. Landlords will need to be prepared to handle maintenance requests promptly and ensure that their properties meet the necessary standards for Section 8 tenancy.
Despite these challenges, there are factors that mitigate the risks. The high renter share of 53.5% indicates a strong demand for rental properties in the area. This high concentration of renters often translates into a robust demand for Section 8 vouchers, providing a steady stream of qualified tenants. The local rental market's reliance on Section 8 vouchers can be an advantage for landlords willing to navigate the program's requirements.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.