Location: Price County, WI | Metro: Ashland County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The median income in ZIP code 54514 stands at $70,769, providing a baseline for assessing the financial capacity of local households. The market rate rent, according to Census ACS data, is $641 per month. This figure is well below the Fair Market Rent (FMR) of $970, which is the standard payment for housing vouchers in the metro area for fiscal year 2026.
To put this into perspective, a household earning the median income would find it relatively easy to afford the market rate rent of $641. However, when comparing the market rate to the voucher payment standard of $970, there is a significant affordability gap. This means that landlords could potentially receive higher rental payments through voucher programs compared to the current market rate.
With only 16.7% of the 1,827 residents being renters, the competition for tenants is likely low. This scenario benefits landlords because it suggests that they have a smaller pool of potential tenants to attract, reducing the need for competitive pricing or additional amenities to draw in renters.
The takeaway for landlords considering voucher versus cash-pay strategies is clear. Given the disparity between the market rate and the voucher payment standard, participating in voucher programs can be a lucrative option. Landlords should consider the administrative aspects of accepting vouchers but should also recognize the opportunity to secure more stable and higher monthly rental incomes. In a market where the median income comfortably covers the current market rate, leveraging the higher payment standards of voucher programs can provide an edge over competitors and ensure a steady stream of income.
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.