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 | $1,040 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,840 | $360,072 | 0.51% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 54947 in fiscal year 2024 is set at $1160. This figure represents the maximum amount that a landlord can charge a tenant participating in the Section 8 housing choice voucher program. It's important to note that this is not the rent you would collect directly from your tenants; it is the reimbursement standard set by the government.
In comparison, the average market rent in ZIP 54947, based on recent Census American Community Survey data, is approximately $694. This means that the FMR for Section 8 participants is significantly higher than the typical market rent in this area, potentially offering a better financial return for landlords who take part in the program.
The 6.6% renter share indicates that about 6.6% of the households in ZIP 54947 are renters. This statistic suggests a moderate demand for rental properties in the area, but with the higher FMR, there is a specific demand for affordable housing units that qualify under the Section 8 program. The average property value in the area is around $345,393, which gives an idea of the potential acquisition cost for a property suitable for a Section 8 tenant.
Before committing to a Section 8 rental, one key verification step is to ensure that the property meets all local housing quality standards, known as Housing Quality Standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) and must be met for the property to be eligible for the program. This includes everything from structural integrity to basic amenities, ensuring that the home is safe and livable for the tenant.
In summary, the FMR of $1160 provides a clear benchmark for the reimbursement rate under the Section 8 program, which is higher than the local average rent of $694. With a moderate renter share and high property values, there is a niche opportunity for landlords willing to meet the necessary HQS requirements. This can lead to a stable and potentially profitable investment in ZIP 54947.
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.