Location: Polk County, WI | Metro: Burnett 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 | $810 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $238,516 | 0.47% | F |
| 3BR | $1,330 | $305,160 | 0.44% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 54840, Grantsburg, Wisconsin, set at $1,050 for the fiscal year 2026, represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. This figure is determined by the U.S. Department of Housing and Urban Development (HUD) and serves as the payment standard for housing assistance. It does not reflect the actual rent that tenants will pay; rather, it ensures that the rent is reasonable compared to market rates.
In contrast, the average rent for the area, based on Census American Community Survey (ACS) data, is $822. This lower figure indicates that the FMR is designed to cover a broad range of housing conditions and sizes, ensuring that even higher-quality units are affordable under the program. The difference between the FMR and the average rent suggests a potential for landlords to receive a slightly higher income than the typical market rate when participating in Section 8.
The 14.7% renter share in Grantsburg means that nearly one out of every seven households is a renter. This statistic provides insight into the local demand for rental properties. Given this relatively low percentage, landlords should be aware that the pool of potential Section 8 tenants might be smaller compared to areas with a higher renter share. However, it also means that there is less competition among landlords, potentially making it easier to secure tenants who need housing assistance.
For those looking to acquire a property in ZIP 54840, the median home value is around $247,947. This figure gives an idea of the investment required to enter the market as a Section 8 landlord. While the initial cost may seem high, the long-term benefits of steady, government-backed rental income can outweigh the upfront expenses.
Before committing to a Section 8 rental property, verify that the unit meets HUD's Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary for tenants. Failure to meet these requirements can result in reduced payments or even termination of the contract, so it's crucial to confirm compliance to avoid any issues down the line.
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.