Location: Manitowoc County, WI | Metro: Green Bay, WI HUD Metro FMR Area
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 | $790 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,400 | $267,107 | 0.52% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 54216 in fiscal year 2024 is set at $910. This figure represents the maximum amount that a landlord can receive from the Housing Choice Voucher program, commonly known as Section 8, for renting a unit in this area. It's important to note that this is not the rent you will charge your tenants; it's the reimbursement limit from the government.
In comparison, the average rent for the same ZIP code, according to recent Census American Community Survey (ACS) data, is $739. This indicates that the FMR is higher than the typical market rent, which can be beneficial for landlords participating in the Section 8 program as they may receive a slightly better rate than the local average.
The renter share in ZIP 54216 is 12.9%, meaning that nearly 13 out of every 100 households in this area are renters. This suggests a steady demand for rental properties, particularly those affordable to low-income families. Given the FMR and the local average rent, there is potential for attracting tenants who qualify for the Section 8 program.
If you're looking to acquire a property in this ZIP code, the median home value stands at $281,841. This figure can help you estimate the initial investment required to enter the Section 8 rental market in this area. With the FMR providing a guaranteed income level, you can calculate your potential returns based on the acquisition cost and the reimbursement rates.
Before proceeding, it's crucial to verify the specific eligibility requirements and processes for joining the Section 8 program in ZIP 54216. Each locality has its own rules regarding property inspections, income limits, and application procedures. Ensuring compliance with these regulations will help you avoid delays and complications once you've acquired the property.
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.