Location: Appleton, WI | Metro: Appleton, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
U.S. Census Bureau data (2024)
The data for ZIP 54169 (Sherwood, WI) reveals several key points that can help address common concerns of real-estate investors interested in Section 8 properties. Let's delve into these concerns directly.
Will Fair Market Rent (FMR) of $1100 cover the mortgage on a home in ZIP 54169? The median home value in ZIP 54169 is not directly provided in the data we have, which makes it challenging to definitively answer this question. However, investors should consider the typical mortgage payment for homes in this price range when evaluating the FMR. It's crucial to also factor in property taxes and insurance costs, which can vary significantly.
Is there enough renter demand at 3.3%? The rental vacancy rate in ZIP 54169 is exceptionally low at 0.0%, indicating a strong demand for rental properties. This is substantially lower than the Wisconsin rate of 4.9% and the U.S. average of 6.0%. With such high occupancy rates, landlords can be confident in finding tenants willing to pay the FMR. However, the 3.3% figure you've mentioned does not align with the data provided, suggesting a need for verification of the source of this statistic.
Will vouchers keep pace with $1,173 market rents? While the data does not provide a direct comparison between voucher amounts and market rents, the average market rent in ZIP 54169 is reported to be around $1,173. Given that the FMR is set at $1100, there is a slight discrepancy. Landlords should monitor local housing authority policies to ensure that voucher amounts will indeed cover the market rent. If not, they may need to adjust their expectations or consider other sources of rental income.
In conclusion, while some data points are missing, the available information suggests that ZIP 54169 offers a robust rental market with strong demand. Investors should continue to research and verify specific financial details relevant to their investment decisions.
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.