Location: Manitowoc County, WI | Metro: Green Bay, WI HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 54227 is situated in a rural area with a small population of 1,621 residents. The neighborhood is predominantly owner-occupied, with only 6.9% of the population being renters. This indicates a community where homeownership is highly valued, and the median income of $87,500 suggests that most residents have the financial stability to afford their homes. The median home value in the area stands at $340,371, reflecting the high demand and desirability of owning property here.
From an investment perspective, the rental economics in ZIP 54227 are particularly noteworthy. The Fair Market Rent (FMR) for the area, as set by HUD for fiscal year 2024, is $1,060. In contrast, the Census Bureau's American Community Survey (ACS) reports the average market rent at $679. This substantial gap between the FMR and the actual market rent presents a significant opportunity for landlords and small-portfolio investors who can leverage the higher FMR rates through Section 8 Housing Choice Vouchers.
Given these conditions, ZIP 54227 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the ability to charge closer to the FMR rate while still attracting tenants at the lower market rent provides a stable income stream with minimal management effort. Meanwhile, value-add buyers can capitalize on the disparity by improving properties to command rents closer to the FMR, thereby increasing their cash flow and property values.
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.