Location: Oneida County, WI | Metro: Langlade County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
A landlord considering ZIP code 54428 for a Section 8 investment must evaluate several factors to determine if the purchase is financially viable. The first step is to calculate whether the Fair Market Rent (FMR) of $970 can cover the debt service on a property valued at $305,578. This requires understanding the monthly mortgage payments, property taxes, insurance, and maintenance costs associated with the property.
If the total debt service is less than $970, then the answer to the first question is a clear yes. The FMR would be sufficient to meet financial obligations. However, if the total debt service exceeds $970, the answer is a definitive no. In this case, the FMR would not cover the expenses, leading to financial losses.
The second question involves comparing the Census ACS reported market rent of $495 to the FMR. If the market rent is above $970, landlords can potentially charge higher rents to non-Section 8 tenants, which makes the investment more attractive. A market rent equal to the FMR means that landlords can only rely on the FMR for rental income, which might still be acceptable depending on the cost structure. But if the market rent is below $970, landlords are limited to the lower market rates, making it a less favorable investment unless they can find other ways to reduce costs or increase revenue.
The third consideration is the demand for rental properties. With 12.5% of residents being renters, there is a base level of demand. However, the day's on market (DOM) figure is listed as N/A, which suggests insufficient data to assess how quickly properties are rented out. Without a clear DOM figure, it's difficult to predict the turnover rate and the likelihood of maintaining occupancy.
If the DOM figure were available and low, indicating quick rentals, combined with a market rent that matches or exceeds the FMR, the answer would be a solid yes. The strong demand and good rental rates would support a successful Section 8 investment. Conversely, if the DOM figure were high, suggesting slow turnovers, and the market rent was below the FMR, the answer would be a firm no. Slow demand and low rental rates would make it challenging to maintain profitability.
In the absence of a DOM figure, the answer depends on other factors such as the ability to manage the property effectively and the willingness to accept lower-than-desired rental income from Section 8 tenants. Landlords should also consider the broader economic context and potential for future changes in renter demographics and market conditions.
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.