Location: Green Bay, WI | Metro: Appleton, WI MSA
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 | $1,200 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,110 | $445,099 | 0.47% | F |
| 4BR | $2,220 | $596,264 | 0.37% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 54155 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $960 for fiscal year 2024. This figure represents the maximum amount that a landlord can receive from the Housing Choice Voucher program for a two-bedroom unit. However, it's important to understand that the total rent collected from tenants and the government will likely differ from this amount due to additional factors such as the tenant's contribution and utility allowances.
In ZIP 54155, the local market rent for a two-bedroom apartment is $1,371 according to the Census ACS (American Community Survey) data. This means that the market rent exceeds the SAFMR by $411 per month. When a tenant uses a Section 8 voucher, they are typically required to pay 30% of their adjusted income toward rent. If we assume an average adjusted income of $1,500 for a tenant in this area, the tenant would contribute approximately $450 toward rent. The remaining balance is then covered by the voucher up to the $960 limit.
To calculate the actual reimbursement received by the landlord, you must also consider utility allowances. These allowances vary but are generally around $200 for a two-bedroom apartment. Thus, if the tenant contributes $450 and the utility allowance is $200, the voucher would cover $310 ($960 - $450 - $200) of the remaining rent. This brings the total monthly rent received by the landlord to $760 ($450 tenant contribution + $310 voucher coverage).
This results in a reimbursement gap of $611 ($1,371 market rent - $760 received). In other words, landlords in ZIP 54155 who participate in the Section 8 program for a two-bedroom apartment will receive $611 less than the market rent each month. This gap is significant and should be carefully considered when deciding whether to accept Section 8 vouchers for rental properties.
It's crucial to remember that the SAFMR is specific to this ZIP code, meaning it is tailored to the local rental market conditions. Therefore, landlords cannot expect higher reimbursement rates by looking at different areas within the same county or state. The reimbursement rates are fixed based on the ZIP code's economic realities.
In summary, landlords in ZIP 54155 must prepare for a substantial reimbursement gap when accepting Section 8 vouchers for two-bedroom units. While the program ensures steady rental income, it does not match the local market rent, leaving a surplus of $611 per month that the landlord will not receive.
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.