Location: Waushara County, WI | Metro: Adams County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The median income in ZIP code 54921 stands at $76,164, which provides insight into the financial capabilities of households in this area. When considering the market rate for rent, which is $844 according to the Census ACS, it becomes evident that the average household can indeed afford this expense. However, when comparing this figure to the Fair Market Rent (FMR) standard set at $970 for metro areas in fiscal year 2026, the situation changes. The FMR represents the maximum amount that a household can be expected to pay for housing assistance through the Section 8 program.
With only 11.1% of the 1,482 residents being renters, the competition among landlords in ZIP 54921 is relatively low. This means that landlords have a smaller pool of potential tenants to attract, but also that there might be less pressure to offer competitive rental rates or amenities compared to more densely populated areas where the percentage of renters is higher.
The affordability gap between the market rate ($844) and the FMR ($970) suggests that landlords who accept Section 8 vouchers could potentially receive a higher rent payment per unit. This makes voucher acceptance a viable strategy for landlords looking to maximize their income per tenant. However, it’s important to note that the voucher payment is based on the FMR and not the actual market rate, so landlords should carefully consider the balance between accepting vouchers and maintaining cash-paying tenants.
Takeaway for landlords: Accepting Section 8 vouchers can provide a stable source of income, particularly since the voucher payment standard is higher than the current market rate. However, given the low percentage of renters, landlords should also focus on attracting and retaining cash-paying tenants. Landlords in ZIP 54921 should weigh the benefits of both approaches, considering the stability offered by vouchers versus the potential for higher rents from non-assisted households.
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.