Location: Monroe County, WI | Metro: Vernon County, WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The market in ZIP code 54651 presents a dynamic scenario that reflects both the current state of housing and potential pressures on rental and homeownership sectors. With a Fair Market Rent (FMR) set at $1,090 for fiscal year 2026, it's clear that the federal benchmark is significantly higher than the actual market rent, which stands at $740 according to the latest Census American Community Survey (ACS) data. This discrepancy suggests that the local rental market is currently experiencing downward pricing pressure, indicative of a situation where supply might be outpacing demand.
The median home value in ZIP 54651 is $220,180. While the exact percentage of homes offered at a discount and the days on market (DOM) are not available, the lower-than-FMR rental rates imply that there could be an oversupply of rental units, leading to competition among landlords to attract tenants. This competition can manifest in various ways, such as offering lower rents or additional amenities, which in turn affects the overall market dynamics.
A noteworthy figure is the 19.0% share of renters in the area. This percentage indicates a significant portion of the population opts for renting over owning, which can be a sign of economic uncertainty or young, transient demographics. The high renter share also suggests ongoing long-term housing pressure, as it implies a persistent need for rental properties. Landlords and small-portfolio investors should take note of this trend, as it points to a stable demand for rental properties despite the current pricing pressures.
In summary, ZIP 54651 is characterized by a rental market that is likely experiencing more supply than demand, with the federal rent guidelines being notably higher than what the market supports. However, the substantial renter share signals a resilient segment of the housing market that could offer consistent returns for those willing to invest in rental properties. Understanding these dynamics can help investors make informed decisions about property management and investment strategies 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.