Location: Bayfield County, WI | Metro: Bayfield County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 54832 in Bayfield County, WI, reveals several key points for landlords and small-portfolio investors.
Firstly, the rent math does not align favorably. The Fair Market Rent (FMR) for the area, set at $1,160 for fiscal year 2026, is higher than the current market rent of $1,063 according to Census ACS data. This suggests that landlords might face challenges in setting rents at the FMR level without risking vacancy rates.
Secondly, the acquisition cost of properties is relatively high. With a median home value of $261,925, potential investors need to be cautious about their entry costs. Unfortunately, the data on days on market (DOM) and the percentage of homes that required price cuts are not available, which makes it harder to assess how quickly homes sell and at what price point.
Lastly, there is a modest tenant demand in the area. The ZIP code has a total population of 453, with 17.8% being renters. This indicates a limited pool of potential tenants, which could affect the ability to fill units and maintain steady occupancy.
Verdict: Investing in ZIP 54832 presents a mixed picture. While the FMR is higher than the current market rent, suggesting some potential for rent increases, the high median home values and limited tenant pool pose significant challenges. Landlords and investors should proceed with caution, focusing on areas where they can secure properties below the median value and ensure they can attract and retain tenants in a competitive market. The lack of detailed DOM and price-cut share data adds another layer of uncertainty, requiring thorough due diligence before making any investment decisions.
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.