Location: Eau Claire, WI | Metro: Eau Claire, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 54722 in fiscal year 2024 is set at $910. This figure represents the payment standard for Section 8 vouchers, which is the amount that voucher holders can receive to cover their rent. It's important to note that this is not necessarily the rent you will charge; it's the maximum subsidy available to tenants.
In comparison, the average rent for the area based on Census American Community Survey data is $823. This suggests that the FMR is slightly above the typical market rate, potentially providing a margin that can help cover costs and provide a modest profit.
The rental market in ZIP 54722 has an 18.0% share of renters, indicating a moderate demand for rental properties. With the FMR being higher than the average rent, there is a good chance that Section 8 tenants can find housing within this budget, making your property attractive to those using vouchers.
If you're looking to acquire a new rental property in this area, the median home value is around $266,547. This figure gives you an idea of the investment required to enter the market. However, remember that the actual price you pay could vary depending on the condition and location of the property.
Before you decide to accept Section 8 tenants, ensure that your property meets all the necessary inspection requirements. The Housing Quality Standards (HQS) inspection is mandatory for all Section 8 properties. Failure to meet these standards can result in penalties and loss of rental income.
To summarize, the FMR of $910 is a benchmark for subsidies, not your rent. The local average rent of $823 indicates a reasonable market fit. With an 18.0% renter share, demand is present but not overwhelming. And, with a median home value of $266,547, you can gauge the investment needed. Verify that your property passes the HQS inspection to avoid any issues down the line.
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.