Location: Buffalo County, WI | Metro: Buffalo County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 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 median income in ZIP code 54610 stands at $61,563, which provides a baseline for understanding the financial capabilities of households in the area. The market rate for rent, according to Census ACS data, is $748. This means that a household earning the median income would allocate approximately 14.7% of their annual earnings towards rent at the market rate. However, when comparing this to the Fair Market Rent (FMR) standard set at $970 for metro FY 2026, it becomes evident that the median income household cannot afford the FMR without significant financial strain.
The affordability gap is stark: at the market rate, a household could feasibly manage their rent payments while still having resources for other necessities. But the FMR, which is higher, places a much greater burden on these same households, potentially making it difficult for them to cover other essential expenses. With only 26.0% of the 1,564 population being renters, the competition among landlords for tenants is relatively low compared to densely populated rental markets. This lower competition, however, is balanced against the financial realities of the local population.
For landlords considering whether to accept Section 8 vouchers or focus on cash-paying tenants, the data suggests a strategic approach is necessary. Accepting vouchers tied to the FMR of $970 ensures a more stable income but may limit the pool of potential tenants due to the higher rent cost relative to the median income. On the other hand, targeting cash-paying tenants who might be more numerous at the $748 market rate could lead to higher occupancy rates and less vacancy periods, though it may also mean accepting lower rents overall.
The takeaway for landlords is clear: while there is room for both voucher and cash-pay strategies, understanding the local income dynamics is crucial. Landlords should consider offering competitive rates around the $748 mark to attract a larger share of the renting population, while also preparing to handle the administrative requirements and stability offered by Section 8 vouchers if they choose to go that route. Balancing these two approaches will likely yield the best outcomes in terms of tenant satisfaction and landlord profitability.
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.