Location: Vilas County, WI | Metro: Vilas County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The ZIP code 54554 presents a dynamic rental market characterized by the interplay between federally mandated Fair Market Rents (FMRs) and actual market rents. The FMR for the area stands at $970, as set for the fiscal year 2026, reflecting the federal government's assessment of what constitutes a fair rent level for the region. In contrast, the Census ACS data reveals that the current market rent is $805. This discrepancy suggests that landlords in 54554 have room to increase their rents to align with the FMR without immediately losing tenants, indicating a market where demand could potentially support higher rents.
The median home value of $329,444 provides insight into the overall housing affordability and desirability within the ZIP code. While the specific percentage of price cut share and days on market (DOM) are unavailable, the lower market rent compared to the FMR implies that the housing market may be experiencing a slight surplus of supply over demand. However, this does not necessarily indicate a weak market; rather, it could suggest that there are multiple factors influencing rental prices, such as competition among landlords or the presence of subsidized housing options.
A 10.4% renter share in the ZIP code signals a relatively low proportion of renters compared to homeowners. This statistic points towards a community where a majority of residents prefer ownership over renting, which can contribute to less immediate housing pressure but also suggests that rental properties might face challenges in attracting tenants if they do not offer competitive pricing or amenities. Over the long term, a low renter share can mean that rental properties in 54554 must continuously adapt to meet the needs of a smaller, yet potentially growing, rental market.
In summary, ZIP 54554 operates within a balanced but evolving housing landscape. The gap between FMR and market rent, along with the median home value, indicates a market capable of supporting modest rent increases. However, the relatively low renter share highlights the importance of maintaining attractive rental offerings to cater to the existing demand and potentially attract new renters, ensuring a steady flow of tenancy in an environment where homeowner preference is strong.
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.