Location: Dunn County, WI | Metro: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $2,040 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
U.S. Census Bureau data (2024)
The ZIP code 54749 has a population of 1,410 individuals, with 24.7% being renters. The median household income in this area is $77,903. This ZIP code is characterized by a moderate renter population, suggesting that there is a reasonable demand for rental properties but not an overwhelming one.
The typical market rent in this area is $979 per month. To contextualize this figure, we can calculate that the average rent consumes approximately 12.6% of the median household income. This indicates that the cost of renting is relatively manageable for most residents, making it feasible for them to cover their rent expenses without significant financial strain.
Comparing the market rent to the Fair Market Rent (FMR), which is set at $1,270 for FY 2024, reveals that the actual market rent is below the FMR. This suggests that landlords in this area could potentially receive higher rents if they align their pricing closer to the FMR, but it also implies that tenants might be more price-sensitive given the lower market rent.
In terms of the tenant profile expected by landlords, they should anticipate a mix of tenants who are likely to use Section 8 vouchers. However, due to the lower percentage of renters and the manageable rent-to-income ratio, landlords may find that voucher usage is not as prevalent as in areas with higher renter populations. Tenants here are more likely to have stable incomes and be able to afford market rents without relying on vouchers.
Given the income levels and rent costs, landlords in ZIP 54749 can expect tenants who are capable of paying the market rate of $979 per month, with some potential for higher rents up to the FMR of $1,270. These tenants will likely be working individuals or families who can manage their housing costs as part of their overall budget.
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.