Location: Door County, WI | Metro: Door County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 54211, located in Wisconsin, has a median household income of $100,938. This figure provides insight into the economic landscape where potential renters reside. The market rate for rent, according to the Census American Community Survey (ACS), stands at $956 per month. However, when comparing this rate to the Fair Market Rent (FMR) set by the Department of Housing and Urban Development (HUD) for fiscal year 2026, which is $1,180, it becomes evident that there is a significant discrepancy.
In ZIP 54211, only 11.2% of the population are renters, indicating a relatively low demand for rental properties in an area with a total population of 403. This low percentage of renters suggests that landlords might face stiff competition when trying to attract tenants, especially those who can pay the market rate or higher.
The affordability gap is stark. A household earning the median income of $100,938 would find the $956 market rate more manageable compared to the HUD FMR of $1,180. For landlords, this means that while some renters might be able to afford the market rate, others may need to rely on housing vouchers to cover their rent.
Takeaway for landlords: Given the high median income and the relatively low market rent, focusing on cash-paying tenants could yield better returns. However, the gap between the market rate and the FMR suggests that there will also be a segment of the rental market that depends on housing vouchers. Landlords should consider both strategies but lean towards cash payments where possible due to the higher financial stability and lower administrative burden.
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.