Location: Bayfield County, WI | Metro: Bayfield County, WI
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,370 | $418,307 | 0.33% | F |
U.S. Census Bureau data (2024)
The potential risks for landlords investing in Section 8 properties in ZIP code 54814 are significant. Tenant turnover is a critical issue, with market rents at $692 falling well below the Fair Market Rent (FMR) of $970 for fiscal year 2026 in the metropolitan area. This disparity can lead to frequent changes in occupancy as tenants seek better deals, impacting the stability and income consistency of rental properties.
Vacancy exposure is another concern. The Days on Market (DOM) data is not available, which makes it difficult to predict how long a property might remain vacant between tenants. A prolonged vacancy period can significantly affect cash flow, especially when relying on government-backed vouchers that have strict eligibility criteria and processing times.
Deferred maintenance poses a substantial threat to property values and safety. With a typical home value of $335,793 and a median income of $63,682, many residents may struggle to afford necessary repairs and upgrades. This financial strain could result in substandard living conditions, leading to higher maintenance costs for landlords and potential compliance issues with housing regulations.
However, these risks must be weighed against the high concentration of renters in the area. With 24.1% of the population being renters, there is likely to be a robust demand for rental properties, particularly those accepting Section 8 vouchers. High renter density often translates into a steady stream of potential tenants, mitigating some of the risks associated with vacancy and turnover.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 54814 is moderate. While there are considerable challenges, the high renter share provides a buffer against vacancy and ensures a steady demand for affordable housing options.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.