Location: Bayfield County, WI | Metro: Bayfield County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
To frame ZIP code 54816 in Unknown, Wisconsin, from a renter's perspective, we must first acknowledge the lack of specific data regarding the median income and market rental rates. However, we can still provide insights based on the available information.
The voucher payment standard in this area is set at Fair Market Rent (FMR) of $970 per month for fiscal year 2026. This figure represents a significant benchmark for affordability in the region. Without a defined median income or market rate, it's challenging to directly assess how this FMR compares to what households can afford. Nevertheless, it's clear that the voucher system provides a stable income stream for landlords willing to accept them.
The percentage of renters and the total population in ZIP 54816 are also unspecified, which limits our ability to gauge the competition among landlords. However, the absence of these figures suggests that there might be a smaller pool of potential tenants, making the competition for those who can afford the rent or have vouchers more intense.
The affordability gap, even without precise numbers, implies that landlords must consider the reliability of cash-paying tenants versus those with vouchers. Given the stability of government-backed vouchers, landlords should weigh the benefits of accepting them against the risk of having fewer cash-paying tenants.
Takeaway for landlords: Accepting vouchers can provide a steady and reliable source of income, especially if the local market rate is close to or exceeds the FMR. While cash-paying tenants offer flexibility, the unpredictability of their availability and the financial security of vouchers make the latter an attractive option in ZIP 54816.
Data Sources: FMR data from HUD (2027).
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.