Location: Green Bay, 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 | $920 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $216,446 | 0.56% | F |
| 3BR | $1,600 | $255,242 | 0.63% | D |
| 4BR | $1,660 | $267,227 | 0.62% | D |
| 5BR | $1,926 | $268,477 | 0.72% | D |
U.S. Census Bureau data (2024)
A decision tree for evaluating whether to invest in ZIP 54303 (Green Bay, WI) for Section 8 properties involves three key steps:
Step 1: Debt Service Coverage Ratio (DSCR)
The Fair Market Rent (FMR) for ZIP 54303 in fiscal year 2024 is $940. For a property valued at $244,103, calculate if this FMR can cover the debt service. Assuming an average mortgage rate of 4%, the annual debt service would be approximately $14,646 ($1,220.50 per month). At $940 per month, the DSCR is 0.77. This means that the FMR does not clear the debt service.
Decision: No. The FMR of $940 is insufficient to cover the debt service on a $244,103 property.
Step 2: Market Rent vs. FMR
The Zillow Rent Index (ZORI) for ZIP 54303 indicates a market rent of $1,132. Compare this figure to the FMR of $940.
Decision: Yes. Market rent at $1,132 is above the FMR of $940, suggesting a positive margin for non-Section 8 units.
Step 3: Rental Demand
Evaluate the rental demand based on the percentage of renters and the days on market (DOM). In ZIP 54303, 47.8% of residents are renters. However, the DOM is listed as N/A, which implies there might not be sufficient data available to determine how quickly rental properties are leased.
Decision: It Depends. With 47.8% of the population renting, there is substantial demand. However, without a clear DOM figure, it's challenging to assess the speed at which properties are rented out. This could affect cash flow and vacancy rates.
In summary, for ZIP 54303, the FMR does not sufficiently cover the debt service on a $244,103 property. However, market rents are higher than the FMR, indicating potential profitability for non-Section 8 tenants. The rental demand appears strong but requires further investigation into leasing times to make a definitive investment recommendation.
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.