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 | $1,110 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,100 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $373,270 | 0.41% | F |
| 3BR | $2,100 | $446,926 | 0.47% | F |
| 4BR | $2,360 | $539,413 | 0.44% | F |
| 5BR | $2,738 | $709,900 | 0.39% | F |
U.S. Census Bureau data (2024)
The ZIP code 54913, located in Appleton, WI, is characterized by a moderate rental population. With a total population of 25,147, approximately 30.5% are renters, indicating a significant but not overwhelming demand for rental properties. This percentage suggests that while there is a substantial tenant pool, it is not dominated by renters, leaving room for both rental and owner-occupied housing.
The median household income in ZIP 54913 stands at $105,385, which provides context for the affordability of the average market rent of $1,691. To put this into perspective, the typical rent consumes about 16% of the median household income, calculated as ($1,691 / $105,385) * 100%. This indicates that the cost of renting in the area is relatively manageable for most households.
Comparing the market rent to the Fair Market Rent (FMR), which is set at $1,140 for FY 2024, reveals a gap between the two figures. Landlords charging the market rate of $1,691 would be above the FMR threshold, meaning that tenants relying solely on Section 8 vouchers would likely struggle to cover the full rent without additional income sources. However, this also implies that landlords could potentially attract tenants who supplement their voucher with personal funds.
The expected tenant profile in ZIP 54913 includes individuals and families who are likely to have some disposable income beyond what is covered by the Section 8 voucher. These tenants may be employed in various sectors of the local economy or have other financial resources that enable them to afford higher rents. Additionally, given the relatively high median income, landlords might find tenants who are willing to pay more than the FMR, especially if they are seeking amenities or quality that exceeds basic requirements.
In summary, while ZIP 54913 has a notable rental segment, it is not predominantly renter-heavy. The income levels suggest that the typical market rent is affordable for many households, though above the FMR. Landlords should anticipate tenants who can leverage their income alongside a Section 8 voucher to meet the higher rent demands of the area.
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.