Section 8 Fair Market Rent (FMR) for ZIP 54241 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 54241

• Manitowoc Housing Authority (Manitowoc, WI)
• Reedsville Housing Authority (Reedsville, WI)

ZIP code 54241 is a stable residential area with a mix of rental and owned properties. The housing market reflects a balance between affordability and demand, making it an attractive location for both tenants and investors.

• The Fair Market Rent (FMR) for ZIP 54241 in fiscal year 2024 is set at $960, providing a benchmark for rental pricing that ensures affordability for low-income families.
• The Zillow Observed Rental Index (ZORI) indicates that the average market rent in this area is $1,096, slightly above the FMR, suggesting that there is room for competitive rents that still meet the needs of Section 8 participants.
• The median home value in ZIP 54241 is $219,651, which is relatively modest compared to larger metropolitan areas, offering opportunities for investors to purchase properties without breaking the bank.
• Renters make up 22.3% of the population, indicating a significant portion of the residents are looking for affordable rental options, aligning well with the availability of Section 8 vouchers.
• While the days on market (DOM) for rentals is not available, the high percentage of renters suggests a steady demand for rental properties, which can be advantageous for landlords.
• The median household income is $61,014, which is moderate but sufficient to support a healthy rental market, especially when considering the availability of Section 8 assistance.

Investors should consider the potential for positive cash flow from properties in ZIP 54241, given the gap between the ZORI and the FMR. The median home value also points to an opportunity for acquiring properties at reasonable costs, while the strong presence of renters and the median income level suggest a reliable tenant pool. Landlords can benefit from the demand for affordable housing and the financial support offered through Section 8 programs.

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.