Location: Price County, WI | Metro: Lincoln County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The ZIP code 54564 is characterized by a modest population of 393 individuals, with only 9.2% being renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for rental properties, especially those accepting Section 8 vouchers, is likely to be lower compared to areas with a higher percentage of renters.
The median household income in this ZIP code stands at $56,875. In relation to the market rent of $390 per month, this represents approximately 8.2% of the median monthly income. This calculation is derived from dividing the annual median income by 12 months and then comparing it to the monthly rent figure. Given the Federal Market Rent (FMR) for FY 2024 is set at $1080, the actual market rent of $390 is significantly below the FMR, indicating that rental costs are relatively low in this area.
A landlord in ZIP 54564 should anticipate a tenant pool that includes individuals who benefit from Section 8 vouchers due to the low market rent. However, the scarcity of renters overall means that the number of potential voucher holders will also be limited. The typical tenant profile would likely consist of low-income families or individuals who require financial assistance to cover their housing costs, given the disparity between the FMR and the actual market rent.
To summarize, ZIP 54564 is not a renter-heavy area but rather a homeowner-dominated community with a smaller segment of renters. Landlords should prepare for a tenant base that relies on Section 8 vouchers, although the overall volume of such tenants will be constrained by the limited number of renters in the area.
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.