Location: Barron County, WI | Metro: Barron County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
A household in ZIP code 54733, with a median income of $58,421, faces significant challenges in affording the market rate rent of $796 per month, according to Census ACS data. This makes it difficult for residents to find suitable housing without financial assistance.
The Federal Market Rent (FMR) for the area in fiscal year 2026 is set at $970. This figure represents the standard payment amount for Section 8 vouchers, which is higher than the current market rate. Therefore, tenants with vouchers can potentially afford better quality housing than those paying out-of-pocket based on the median income.
In ZIP 54733, only 13.3% of the 1,333 population are renters. Given this limited pool of potential tenants, landlords must consider the affordability gap when strategizing their rental offerings. The disparity between median income and market rate rent suggests that there is a significant portion of the rental market that cannot afford typical rents, leading to increased competition among landlords who accept vouchers.
For landlords considering whether to accept voucher tenants or focus on cash-paying ones, the decision should be informed by the local economic conditions. Accepting vouchers allows landlords to tap into a segment of the market that can afford higher rent due to government subsidies, ensuring a steady and reliable source of income. However, landlords who choose to cater to cash-paying tenants will need to offer competitive pricing or value-added services to attract and retain occupants given the tight budget constraints many face.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a viable strategy to secure tenancy in an area where the median income struggles to meet market rates. It offers a balance between occupancy and financial stability, though landlords should also consider the administrative aspects of working with vouchers.
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.