Location: Oneida County, WI | Metro: Lincoln County, WI
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 | $840 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $223,160 | 0.45% | F |
| 3BR | $1,280 | $301,612 | 0.42% | F |
| 4BR | $1,440 | $360,341 | 0.4% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 54501, located in Rhinelander, WI, within Oneida County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is set at $1050. This figure is important because it directly influences the maximum amount that a landlord can receive from the Housing Choice Voucher program, commonly known as Section 8.
In contrast, the local market rent for a two-bedroom unit, according to the Census American Community Survey (ACS), averages at $828. This difference between the SAFMR and the actual market rent is a key consideration for landlords when deciding whether to accept Section 8 tenants.
A landlord who accepts a Section 8 tenant in ZIP 54501 will be reimbursed based on the SAFMR of $1050. However, this amount includes the tenant's portion of the rent and utility allowances. Typically, the tenant is responsible for paying 30% of their adjusted income towards rent. For simplicity, let's assume the tenant's portion is $315, which is 30% of a hypothetical $1050 monthly income. The remaining $735 would come from the Section 8 program, assuming there are no utility allowances that further reduce the reimbursement amount.
The SAFMR being higher than the local market rent means that landlords could potentially benefit from the Section 8 program if they price their units near the SAFMR level. In ZIP 54501, if a landlord sets the rent at $1050, the reimbursement from the Section 8 program would cover the entire rent minus the tenant's contribution, leaving the landlord fully compensated without the need to lower their rates.
However, if the landlord chooses to charge less than the SAFMR, say $828, the reimbursement gap or surplus comes into play. Since the reimbursement is capped at the SAFMR, the landlord would still only receive $735 from the Section 8 program, plus the tenant's $315, totaling $1050. But because the market rent is $828, the landlord would effectively have a surplus of $222 per month over what they might typically expect from a non-voucher tenant.
To summarize, in ZIP 54501, landlords can expect a reimbursement of up to $1050 for a two-bedroom apartment, but the actual amount received depends on the tenant's contribution. Given the local market rent of $828, accepting a Section 8 tenant can result in a monthly surplus of $222 for the landlord, making it an attractive option compared to renting below the SAFMR rate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.