Location: Manitowoc County, WI | Metro: Manitowoc County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 54232, as determined by the U.S. Department of Housing and Urban Development for fiscal year 2026, is set at $970. This figure represents the payment standard for Section 8 housing vouchers in the area, meaning it's the maximum amount the government will pay to cover a tenant's rent. However, this does not necessarily mean your property's rent should be set at this level.
To understand the implications, compare the FMR to the average rent in the area. According to the Census Bureau's American Community Survey, the typical rent in ZIP 54232 is $582. This suggests that the FMR is significantly higher than the local average, potentially offering landlords a better financial return when participating in the Section 8 program.
The demand for rental properties in ZIP 54232 is indicated by the fact that 9.7% of the population are renters. This percentage shows there is a steady pool of potential tenants who might benefit from the Section 8 program. The availability of vouchers can help fill vacancies faster and ensure timely rent payments.
It's important to note that the acquisition cost for new Section 8 units in this area is listed as N/A. This could mean that there are no specific additional costs beyond regular maintenance and management for landlords to acquire a Section 8 tenant. However, it's advisable to check with local housing authorities for any specific requirements or conditions they may have.
Before deciding to participate in the Section 8 program, you should verify the condition of your property against HUD's minimum property standards. These standards ensure that the rental unit is safe, decent, and sanitary, which is a requirement for accepting Section 8 tenants. Compliance with these standards is critical as it affects eligibility and can impact the overall success of your rental venture in the program.
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.