Location: Monroe County, WI | Metro: Juneau County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The ZIP code 54618 is situated in a small, rural neighborhood with a total population of 2,333 residents. Approximately 18.6% of these residents are renters, indicating a modest demand for rental properties. The area has a median household income of $73,214, which suggests that the local economy supports a comfortable standard of living. The median home value in this ZIP code stands at $246,338, reflecting a relatively stable housing market.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 54618 as of fiscal year 2026 is set at $1,070. However, the actual market rent, based on recent Census ACS data, is significantly lower at $821 per month. This discrepancy presents an opportunity for investors to either operate hands-off with Section 8 vouchers or pursue a more hands-on approach to add value to their properties.
For a hands-off voucher operator, the ZIP code 54618 offers a straightforward investment scenario where the FMR exceeds the current market rent, allowing landlords to receive a higher guaranteed income through the Section 8 program without the need for extensive property management. On the other hand, for a hands-on value-add buyer, there is potential to increase rents closer to the FMR by improving property conditions and amenities, thereby maximizing returns while still attracting tenants who benefit from the voucher system.
In summary, ZIP 54618 is a suitable location for both hands-off and hands-on investors, depending on their strategy. The current market rent of $821 is well below the FMR of $1,070, offering a margin that can be leveraged to meet investment goals whether through passive income or active property improvement.
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.