Location: Waupaca County, WI | Metro: Portage County, WI
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 | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,340 | $302,076 | 0.44% | F |
U.S. Census Bureau data (2024)
In ZIP code 54945, there are several factors that could pose challenges for landlords considering Section 8 investments. Tenant turnover is likely to be higher due to the significant gap between the market rent of $800 and the Fair Market Rent (FMR) of $970 for fiscal year 2026 in the metropolitan area. This disparity can lead to dissatisfaction among tenants who might prefer to seek out units that match their budget closer to the FMR, increasing the likelihood of frequent moves.
Vacancy exposure is another concern, as the days on market (DOM) data is currently unavailable. This makes it difficult to predict how long a unit might remain vacant between tenants, which can be costly for landlords who depend on steady rental income.
The deferred maintenance risk is also present, given the typical home value of $278,779 and a median income of $69,602. The lower median income suggests that many residents may have limited funds for repairs or maintenance, potentially leading to a higher burden on landlords to maintain properties in good condition.
However, these risks must be weighed against the high renter share in the area, which stands at 22.9%. A large proportion of renters often indicates higher demand for housing vouchers, such as Section 8. This demand can stabilize occupancy rates and provide a reliable source of rental income, mitigating some of the risks associated with tenant turnover and vacancy exposure.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.