Location: Wood County, WI | Metro: Portage County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 54475 are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $970 for fiscal year 2026. This figure represents the maximum amount that the housing authority will pay landlords on behalf of eligible tenants. In comparison, the local market rent for a similar unit, according to Census ACS data, averages around $700.
A landlord participating in the Section 8 program receives a reimbursement that includes both the tenant's portion and utility allowances. The tenant is typically responsible for paying 30% of their adjusted income toward rent. For example, if a tenant has an adjusted monthly income of $1,000, they would pay $300 toward rent. The remaining balance up to the SAFMR is covered by the housing authority, which in this case would be $670 ($970 - $300).
In addition to the base rent, there are utility allowances that vary based on the size of the unit and local costs. These allowances are designed to cover the average cost of utilities in the area and are added to the reimbursement amount. However, the exact utility allowance for ZIP 54475 is not specified in the provided data. To determine the total reimbursement, you would add the utility allowance to the $670 base reimbursement.
The SAFMR being set for this specific ZIP code means that it reflects the rental conditions unique to this area, potentially offering a more accurate representation of local market values compared to a broader metro or county-level rate.
Given these parameters, a landlord in ZIP 54475 can expect a reimbursement gap or surplus when comparing the SAFMR to the local market rent. With the SAFMR at $970 and the local market rent at $700, there is a potential surplus of $270 per month before factoring in the utility allowances. This means that landlords can charge up to the SAFMR without losing out on the typical market rent, thus benefiting from a higher payment for their units.
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.