Location: Monroe County, WI | Metro: Jackson County, WI
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $186,857 | 0.54% | F |
| 3BR | $1,230 | $255,351 | 0.48% | F |
U.S. Census Bureau data (2024)
To integrate ZIP 54615, located in Black River Falls, WI, into a Section 8 portfolio strategy, one must consider several key metrics that define its potential role. This ZIP code is part of the Monroe County, WI metro area and presents itself as a strong cash-flow anchor.
The Federal Market Rent (FMR) for the Monroe County, WI metro area in fiscal year 2026 is set at $970. In contrast, the current market rent stands at $781, indicating a significant spread of $189 per unit. This discrepancy means that landlords participating in the Section 8 program can expect higher rental income compared to the local market rates, thus enhancing cash flow. Additionally, the median home value in ZIP 54615 is $231,506, which suggests a stable housing market.
The low price-cut share of 0.1% and the non-applicable day-on-market (DOM) figures indicate that homes in this area rarely need to be discounted, and there's no indication of prolonged time on the market, suggesting steady demand for housing. However, these factors are secondary when considering the primary role of this ZIP code within a Section 8 portfolio.
The renter share of 23.8% and the median income of $67,033 provide insight into the demographic profile. While these figures do not directly support the case for appreciation, they do suggest a reasonable level of economic stability and a modest presence of renters who might qualify for Section 8 assistance.
Defending the Cash-Flow Anchor Strategy:
The $189 spread between the FMR and the market rent ensures that properties in ZIP 54615 will generate above-average rental income for Section 8 landlords, making it a reliable cash-flow generator.
The stable median home value indicates that the investment is secure, with little risk of property devaluation.
A steady demand for housing, as evidenced by the low price-cut share, further supports the viability of this ZIP code as a consistent performer in a Section 8 portfolio.
Therefore, ZIP 54615 is best suited as a cash-flow anchor in a Section 8 portfolio strategy, providing landlords and small-portfolio investors with a predictable and profitable investment opportunity.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.