Location: Oshkosh-Neenah, 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 | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,540 | $404,805 | 0.38% | F |
| 4BR | $1,660 | $527,874 | 0.31% | F |
U.S. Census Bureau data (2024)
ZIP 54944, located within the Oshkosh-Neenah, WI MSA, serves as a solid cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 54944 in fiscal year 2024 is set at $910, while the market rent stands at $924. This indicates that the difference between the FMR and the market rent is minimal, at only $14. With a median home value of $411,986, the area's real estate is relatively stable and offers predictable rental income.
The low price-cut share of 0.2% suggests that property values are unlikely to experience significant fluctuations, making it a safe choice for long-term investment. Additionally, the N/A-day Days on Market (DOM) implies that properties in this ZIP code are typically sold quickly once listed, reducing the risk of prolonged vacancy and associated losses.
While the median income of $100,523 and a renter share of 13.8% could be seen as diversifiers, the primary focus should remain on the cash flow generated by the properties. The slight premium in market rent over the FMR means that landlords can expect a modest increase in revenue when renting to tenants outside the Section 8 program, thus enhancing overall profitability.
In summary, ZIP 54944 is best suited as a cash-flow anchor within a Section 8 portfolio due to its stable real estate market, minimal spread between FMR and market rent, and quick property turnover. Landlords can leverage this stability to ensure consistent income streams and mitigate risks associated with volatile markets.
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.