Location: Iron County, WI | Metro: Iron County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 54565, as set by HUD for metro FY 2026, is $970. This figure represents the payment standard used by the Section 8 program to determine the maximum amount of assistance a tenant can receive. It does not mean you will collect $970 as rent; rather, it is the ceiling for the subsidy. The actual rent you charge could be higher, but the tenant's portion would increase proportionally.
In ZIP 54565, there is currently no local payment standard listed, which means the $970 FMR is the benchmark for the entire area. This lack of a local standard suggests that the regional FMR is considered appropriate for the housing market here.
The 0.0% renter share indicates that there is no specific portion of renters in this ZIP code who are eligible for the Section 8 program based on the data available. However, this does not necessarily mean there is no demand for affordable housing. To gauge the actual demand, consider the overall vacancy rate and the number of low-income families in the area. A lower vacancy rate generally implies higher demand for rentals, including those under the Section 8 program.
Regarding acquisition costs, there is no specific data provided for ZIP 54565. Without this information, it's difficult to advise on the cost of acquiring a property suitable for Section 8 tenants. However, properties in this ZIP code should be priced comparably to similar areas with known acquisition costs. If you're looking to invest in a new property, research comparable neighborhoods to estimate your potential costs.
Before deciding to participate in the Section 8 program with a property in ZIP 54565, ensure that the property meets the required standards for inspection. HUD sets specific criteria for habitability, safety, and cleanliness, and your property must pass an initial inspection as well as annual re-inspections. Verify that your property complies with these standards to avoid delays or rejection from the program.
Participating in the Section 8 program can provide a stable income stream, but it also comes with regulatory obligations. The $970 FMR offers a clear guideline for the subsidy level, while the absence of local renter share data and acquisition costs means you'll need to conduct further research to understand the local market fully.
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.