Location: Langlade County, WI | Metro: Forest County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 54566 in Langlade County, WI, reveals several key points that are crucial for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970, while the current market rent according to the Census ACS stands at $658. This indicates that properties priced at the FMR level are likely overpriced compared to the local market, suggesting that landlords should aim to keep rents closer to the market rate of $658 to remain competitive and viable.
The second consideration is the affordability of property acquisition. With a median home value of $224,356, acquiring homes in this ZIP code is relatively affordable. However, the lack of data on days on market (DOM) and the percentage of homes requiring price cuts limits a comprehensive assessment of how quickly properties can be sold and at what price point. Landlords must proceed with caution, as these missing metrics could indicate potential issues in the local real estate market.
The third factor is tenant demand. The ZIP code has a total population of 1,453, with 17.1% of residents being renters. Given the small population size, the number of potential tenants is limited, which could pose challenges for maintaining consistent occupancy rates. Landlords will need to focus on retaining tenants and ensuring properties meet their needs to minimize turnover.
Verdict: While the acquisition cost of properties in ZIP 54566 is affordable at a median home value of $224,356, the rent math does not favor landlords who aim to charge at the FMR level of $970. Instead, they should align with the market rent of $658. The limited tenant pool, comprising only 17.1% of the 1,453 population, suggests that landlords must carefully manage their properties to ensure steady demand. Without concrete data on days on market and price cut percentages, the ease of selling properties remains uncertain, adding another layer of risk to investment decisions in this ZIP code.
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.