Location: Jackson County, WI | Metro: Clark County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The median income in ZIP code 54746 stands at $62,411, which places significant constraints on rental affordability for households in the area. The market rate for renting, according to Census ACS data, is $1,148 per month. This figure represents a substantial portion of the average household's income, indicating a tight budget for most residents.
To put this into perspective, let's consider the housing voucher payment standard, which is set at $1,170 per month for the Fair Market Rent (FMR) in the metro area for fiscal year 2026. This means that the voucher amount is slightly higher than the current market rate, suggesting that voucher holders could potentially have a slight advantage in securing rental properties.
In ZIP 54746, where the population is 693 and 18.7% of those are renters, the affordability gap is evident. A household earning the median income would need to allocate approximately 22% of their monthly earnings towards rent at the market rate, leaving limited funds for other necessities. This financial strain likely influences the competition among renters, particularly between those who rely on vouchers and those paying out-of-pocket.
For landlords considering their rental strategy, these numbers point to a few key takeaways. First, the voucher payment standard is close to the market rate, making it a viable option for covering costs without significant loss. Second, given the financial pressure on local households, landlords who accept vouchers might find themselves with a steady stream of tenants willing to pay the full FMR, thus ensuring consistent and reliable income.
However, landlords must also weigh the administrative complexity and potential delays associated with voucher programs. If they decide to focus on cash-paying tenants, they should be prepared for the reality that many local residents will struggle to meet the market rate, leading to a smaller pool of potential tenants and possibly longer vacancies.
In conclusion, while the affordability gap in ZIP 54746 poses challenges for both renters and landlords, accepting vouchers can provide a balance between tenant stability and maintaining rental income levels comparable to market rates. Landlords should carefully evaluate the benefits and drawbacks of each approach based on their operational preferences and the specific needs of their property.
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.