Location: Door County, WI | Metro: Door 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 | $1,070 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,480 | $380,388 | 0.39% | F |
| 3BR | $1,760 | $676,156 | 0.26% | F |
U.S. Census Bureau data (2024)
The ZIP code 54209, located in Egg Harbor, WI, falls within the broader context of the Door County, WI metro area. Its Fair Market Rent (FMR) for fiscal year 2026 is set at $1,350, which is higher than the market rent figure of $1,188. This indicates that the government's estimate of what constitutes a fair rent is slightly above what the actual market is currently offering, suggesting a potential for rental income growth in this area.
The median home value in ZIP 54209 stands at $431,210, which is a significant figure when considering investment properties. This value is indicative of a stable housing market, but it does not necessarily reflect the entire spectrum of property values within the ZIP code. Some areas might have lower home values, which could be attractive to investors looking for properties under the median price point.
The renter share in ZIP 54209 is 7.0%, which is notably low compared to typical metropolitan areas where renter shares can range widely. A low renter share suggests that the majority of residents are homeowners, which might imply a less active rental market. However, the divergence between the relatively high FMR and the lower market rent, coupled with the low renter share, does not clearly indicate a Section 8 sweet spot in the traditional sense. Typically, a high renter share with below-metro home values would signal such an opportunity, but 54209's characteristics do not align perfectly with this pattern.
To determine if 54209 represents a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, we must consider the overall trends of Door County, WI. The FMR being above the market rent suggests that this ZIP code might lean towards being a mid-tier neighborhood, where there is room for rents to rise to meet the FMR without significantly outpacing the local economy. Additionally, the median home value is quite high, indicating a potentially affluent area, though it does not necessarily mean all homes are priced at this level.
In conclusion, while 54209 shows signs of a healthy real estate market with solid home values and reasonable rents, the low renter share complicates the classification of its market status. It is likely a mid-tier neighborhood, but specific pockets within it could offer value opportunities for savvy investors who can identify properties with lower than average home values or those that could benefit from modest rental increases to match the FMR.
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.