Location: Appleton, WI | Metro: Appleton, WI MSA
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 | $910 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,250 | $222,253 | 0.56% | F |
| 3BR | $1,730 | $279,231 | 0.62% | D |
| 4BR | $1,940 | $321,794 | 0.6% | D |
| 5BR | $2,250 | $345,688 | 0.65% | D |
U.S. Census Bureau data (2024)
The ZIP code 54911, located within the Appleton, WI MSA, has a Federal Market Rent (FMR) of $970 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. In comparison, the market rent for this ZIP code stands at $1,435, indicating a significant gap between subsidized and actual rental rates. The median home value in ZIP 54911 is $274,022, which is reflective of the broader housing market trends in the area.
The 39.8% renter share in ZIP 54911 suggests a higher proportion of renters compared to homeowners, a characteristic that could be indicative of a value pocket within the Appleton, WI MSA. Value pockets are areas where the cost of renting is lower relative to the broader market, yet still offers a substantial number of renters who might benefit from Section 8 subsidies. This makes it an attractive location for landlords seeking to participate in the Section 8 program, as they can offer affordable housing options while still receiving competitive rents through the subsidy program.
A closer look at the data reveals that the median home value in ZIP 54911 is notably lower than the average home value across the Appleton, WI MSA. This divergence, combined with the high renter share, points towards a potential sweet spot for Section 8 properties. Landlords can expect a steady demand from tenants who qualify for the program, given the affordability of both rental units and homes in this area.
To summarize, ZIP 54911 appears to be a value pocket within the Appleton, WI MSA, characterized by its relatively low median home value and high renter share. These factors make it a favorable market for landlords interested in the Section 8 program, as they can leverage the subsidy to attract and retain tenants in a competitive rental environment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.