Location: Green Bay, WI | Metro: Green Bay, WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The ZIP code 54307 presents several challenges for landlords considering participation in the Section 8 program. Firstly, tenant turnover is a significant concern. The Fair Market Rent (FMR) for the area is set at $1050 for FY 2024, but without specific market rent data, it's difficult to assess how competitive this figure is. High turnover can lead to frequent vacancies and increased costs associated with finding new tenants, such as advertising and screening.
Vacancy exposure is another critical issue. With no data on the days on market (DOM), it's unclear how quickly properties in this area might be rented. A prolonged DOM can result in lost rental income and additional expenses, including property management fees and utilities while the unit remains unoccupied.
Deferred maintenance is also a risk factor. Without knowing the typical home values and median incomes in ZIP 54307, it's hard to gauge the financial health of potential tenants and their ability to maintain properties. This uncertainty increases the likelihood that landlords will have to cover unexpected repair costs, which can significantly impact profitability.
Despite these risks, there are factors that mitigate the downsides. The high renter share in the area suggests a robust demand for rental properties, which typically translates into a higher number of tenants seeking Section 8 vouchers. This strong demand can help ensure that units remain occupied, reducing the risk of prolonged vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.