Location: Washburn County, WI | Metro: Barron County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
The ZIP code 54870 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant issue, with the market rent at $1,125 being notably lower than the Fair Market Rent (FMR) of $1,360 for FY 2026 in the metropolitan area. This discrepancy suggests that tenants who can afford the higher FMR may prefer non-voucher options, leading to higher turnover rates among those relying on vouchers.
Vacancy exposure is another concern, as the Days on Market (DOM) data is currently unavailable. However, given the typical home value of $380,524 and the median income of $67,063, it's likely that many properties in this area are priced beyond the reach of most voucher holders. This combination could result in prolonged vacancies, especially if the property requires extensive maintenance or upgrades that aren't covered by the program.
The deferred-maintenance exposure is particularly relevant when considering the median income figure. With a median income of $67,063, the average household may struggle to cover the costs of necessary repairs and upkeep, which can be substantial for homes valued at $380,524. Landlords must be prepared to invest additional capital into maintaining their properties to meet Section 8 standards without expecting full reimbursement through rental payments.
On the other hand, the 5.4% renter share in ZIP 54870 indicates a relatively high concentration of renters compared to homeowners, which typically translates into higher demand for housing vouchers. This factor can mitigate some of the risks associated with vacancy and turnover, as there is a larger pool of potential tenants who qualify for Section 8 assistance.
In conclusion, the risks posed by tenant turnover, vacancy exposure, and deferred maintenance in ZIP 54870 outweigh the benefits of a high renter density. Therefore, the overall risk for a first-time Section 8 landlord in this area is moderate.
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.