Location: Clark County, WI | Metro: Wausau, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The market in ZIP code 54488 presents a dynamic equilibrium, with specific indicators suggesting both supply and demand forces at play. The Fair Market Rent (FMR) for the area is set at $910 for the fiscal year 2024, which is higher than the reported market rent of $827 based on Census ACS data. This discrepancy between FMR and market rent could imply that there is a slight oversupply of rental units, as landlords might be offering lower rents to attract tenants.
The median home value in the region stands at $215,715. Although the percentage of homes experiencing price cuts and the days on market (DOM) are not available, the median home value can give us insight into the overall health of the housing market. A stable median home value suggests a balanced market where neither buyers nor sellers have significant leverage over the other.
The renter share of the population in ZIP 54488 is 20.3%. This figure is relatively low, indicating that the majority of residents own their homes. However, a low renter share does not necessarily mean low housing pressure. Instead, it can suggest that the area has a strong owner-occupied housing base, which might indicate a preference for homeownership over renting. This preference could lead to long-term housing pressure if the population grows and more individuals seek to purchase homes rather than rent, potentially driving up home values and making it harder for new residents to enter the market.
The dynamics of the ZIP 54488 market are thus characterized by a slight oversupply in the rental sector, as evidenced by the lower market rent compared to FMR. In contrast, the housing market appears stable, with a strong inclination towards homeownership. Landlords and small-portfolio investors should be aware of these trends and consider the potential shift in demand towards ownership as they evaluate investment opportunities in the area.
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.