Location: Monroe County, WI | Metro: La Crosse-Onalaska, WI-MN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 54653 in Monroe County, WI, reveals several key points that landlords and small-portfolio investors should consider.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for ZIP 54653 in fiscal year 2024 is set at $1190. However, the market rent, as reported by the Census ACS, stands at $983. This indicates that the FMR is higher than the actual market rate by $207, suggesting that landlords can potentially charge closer to the FMR but should be prepared to compete with the lower market rates.
Regarding the affordability of acquisition, the median home value in ZIP 54653 is $295,040. Unfortunately, the data on the number of days on the market (DOM) and the percentage of homes needing price cuts is not available, which means investors cannot assess the typical speed of sales or the frequency of price reductions. This lack of information could pose a risk, as it's crucial for understanding how quickly properties turn over and if they require adjustments in pricing.
On the matter of tenant demand, the ZIP code has a total population of 1,335, with 14.8% being renters. This translates to approximately 197 potential tenants in the area. Given the limited population size, the pool of potential renters is also relatively small, which could affect the ability to fill vacancies quickly and consistently.
In summary, while the rent math appears favorable due to the discrepancy between FMR and market rent, the lack of data on DOM and price-cut shares makes the acquisition process less predictable. Additionally, the low renter share and small population suggest that tenant demand is modest. Landlords and investors should proceed with caution, focusing on competitive rental pricing and being prepared for a smaller tenant pool.
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.