Location: Vilas County, WI | Metro: Vilas County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
To understand the economics of Section 8 housing in ZIP code 54560, it's essential to first recognize the role of the Section 8 SAFMR (Small Area Fair Market Rent). For a two-bedroom apartment in this specific ZIP code, the SAFMR for fiscal year 2026 is set at $1,230 per month. This figure represents the maximum amount that the federal government will reimburse landlords through the Housing Choice Voucher program.
The SAFMR is based on the local rental market conditions and aims to reflect the actual rents charged for decent, safe, and sanitary housing. However, the local market rent for ZIP 54560 is currently listed as N/A, which suggests that there isn't enough data to provide an accurate comparison between the SAFMR and the prevailing market rates.
When a landlord accepts a Section 8 voucher, the reimbursement they receive is calculated based on the SAFMR minus the tenant's portion of the rent. The tenant is required to pay 30% of their adjusted income towards the rent. Additionally, there are utility allowances that vary depending on the size of the unit and the number of occupants. For a two-bedroom unit, these allowances can range from $200 to $300 monthly, depending on the specifics of the household.
Let's assume the SAFMR of $1,230 includes the utility allowance. If the tenant's portion is $369 (which would be 30% of a household income of $1,230), the landlord would receive the remaining $861 from the housing authority. This calculation provides a clear picture of the monthly reimbursement a landlord can expect when renting to a Section 8 participant.
In ZIP 54560, given the lack of specific local market rent data, we cannot determine if the SAFMR aligns closely with the market rates. However, if the local market rent were higher than the SAFMR, landlords would face a reimbursement gap. Conversely, if the local market rent were lower, landlords might see a surplus.
For instance, if the local market rent for a two-bedroom was $1,400, the landlord would have a reimbursement gap of $170 per month. On the other hand, if the local market rent was $1,000, the landlord would receive a surplus of $230 per month over the market rate, though the total reimbursement would still be capped at the SAFMR of $1,230.
Given the current SAFMR of $1,230, landlords should prepare for a potential reimbursement gap if the local market rent exceeds this amount. The exact surplus or gap can only be determined with accurate local market rent figures, which are currently unavailable for ZIP 54560.
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.