Location: Appleton, WI | Metro: Appleton, WI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 54931 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is set at $920. This figure represents the maximum amount that the housing authority will pay towards rent for a two-bedroom unit in this area.
To understand what a landlord can expect from a Section 8 voucher, it's essential to break down the components. The tenant is responsible for paying approximately 30% of their adjusted income toward rent. If we assume an average adjusted income of $1,800 per month, the tenant would pay around $540 monthly. The remaining balance is covered by the housing assistance payment (HAP) made directly to the landlord by the local housing authority.
In addition to the base rent, landlords must also account for utility allowances. These allowances vary but typically cover a portion of the tenant's electricity, gas, water, and sewer costs. For ZIP 54931, the utility allowance is included in the SAFMR calculation, meaning the total $920 covers both rent and utilities.
Thus, the landlord receives $920 from the housing authority, which includes the tenant's $540 contribution. This leaves the housing authority paying the difference, which is $380. It's important to note that the actual amount paid by the housing authority may fluctuate slightly based on the tenant's exact income and any adjustments to the utility allowance.
Given the SAFMR of $920, if the local market rent for a similar two-bedroom unit were higher, there would be a reimbursement gap. However, since the local market rent data is currently unavailable, we cannot determine whether there is a surplus or a gap in reimbursement. Landlords should monitor local rental listings to compare market rates against the SAFMR to assess potential gaps or surpluses.
For landlords in ZIP 54931, the key takeaway is that they will receive a fixed amount of $920 per month for a two-bedroom unit, assuming the tenant's portion plus utility allowances do not exceed this limit. This provides a predictable revenue stream but may result in a financial shortfall if the market rent exceeds the SAFMR.
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.