Location: Vilas County, WI | Metro: Iron County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
In ZIP code 54545, the economics of Section 8 housing are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1,280 per month for fiscal year 2026. This figure represents the maximum amount that the Housing Choice Voucher program will pay for a two-bedroom rental unit in this specific ZIP code. It's important to note that the local market rent for a similar unit is slightly lower at $1,135, based on recent Census ACS data.
A landlord participating in the Section 8 program receives a subsidy payment from the housing authority to cover the difference between the tenant's contribution and the total rent. The tenant's portion is typically 30% of their adjusted income. For simplicity, let's assume an average adjusted income of $1,500 per month for tenants in this area. In this case, the tenant would contribute $450 towards the rent ($1,500 x 0.3).
The remaining balance of the rent is covered by the voucher, but it also includes a utility allowance. The utility allowance can vary, but for this example, we'll use a standard figure of $200 per month. Therefore, the total reimbursement a landlord can expect is the sum of the tenant's contribution and the voucher payment, minus any utility allowance.
If we take the SAFMR of $1,280 and subtract the tenant's contribution of $450, the voucher would pay $830 towards the rent. Adding the utility allowance of $200, the total monthly reimbursement comes to $1,030. This leaves a gap of $250 between the market rent of $1,135 and the reimbursement amount of $1,030.
In essence, landlords in ZIP 54545 who participate in the Section 8 program for a two-bedroom apartment will receive $1,030 per month, leaving them with a shortfall of $95 compared to the local market rent. This means landlords must decide whether the additional administrative and regulatory requirements of the Section 8 program are worth accepting a slightly lower rent than what they could potentially get in the open market.
To summarize, the typical reimbursement for a two-bedroom apartment under the Section 8 program in ZIP 54545 is $1,030, resulting in a surplus of $145 if the landlord accepts the voucher at the market rate of $1,135. However, if the landlord sets the rent at the SAFMR level of $1,280, there will be a gap of $250 that the landlord must absorb.
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.