Location: Vernon County, WI | Metro: Vernon County, WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The Federal Market Rent (FMR) for ZIP code 54632 in the metro area for fiscal year 2026 is set at $970. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay toward the rent of a Section 8 tenant in this area. It's important to note that this is not the rent you should charge your tenants; rather, it's the benchmark HUD uses to determine the subsidy.
In comparison, the average rent in ZIP 54632 is currently $863, according to the latest Census American Community Survey (ACS) data. This indicates that the FMR is slightly higher than the average market rate, which could be beneficial for landlords participating in the Section 8 program as it may cover a larger portion of the rent.
The renter share in this ZIP code stands at 9.1%, meaning that about 9.1% of the population rents their homes. This suggests a moderate demand for rental properties, including those under the Section 8 program. However, given the specific nature of Section 8 rentals, the actual demand might be lower but still significant.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in ZIP 54632 is approximately $269,704. This is the price point you would need to consider for acquiring a property in this area. Keep in mind that this figure can vary depending on the condition, size, and location of the property.
Before proceeding with your first Section 8 rental, you must verify that the property meets the minimum housing quality standards known as the Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary. Failure to meet these criteria can result in disqualification from the program, so it's crucial to have a thorough inspection conducted by a professional familiar with HQS requirements.
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.