Location: Oneida County, WI | Metro: Oneida County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
The ZIP code 54543 in McNaughton, WI, presents several key considerations for real-estate investors looking into the Section 8 program. Let's address some common objections:
The median home price in ZIP 54543 is $236,700. Assuming a standard 20% down payment, the loan amount would be approximately $190,000. At today's interest rates, a monthly mortgage payment could range from $800 to $1,200, depending on the exact rate and term length. Therefore, the FMR of $1,010 will likely cover a significant portion of the mortgage, though it might not fully cover higher-end financing terms.
Data from Realtor.com indicates that there are currently 47 apartments listed for rent in ZIP 54543 and nearby areas. This suggests a reasonable level of demand, especially considering the smaller size of the community. However, the percentage of renters in the area is not specified, which means we cannot provide a precise figure on how many residents are likely to seek rental properties.
The FMR of $1,010 is set by HUD to ensure that voucher holders can afford decent housing. While this figure aims to reflect the local rental market, it does not guarantee that it will always align perfectly with the actual market rents. In ZIP 54543, where the rental market is relatively stable, vouchers should generally keep up with rent increases. However, rapid changes in the local economy or housing market could cause discrepancies.
Investors must consider these factors carefully. The data suggests that while the FMR covers a substantial part of the mortgage, there are uncertainties regarding renter demand and potential mismatches between voucher amounts and market rents.
Data Sources: FMR data from HUD (2027).
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.