Location: Waushara County, WI | Metro: Green Lake 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 | $740 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,310 | $347,319 | 0.38% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 54960 in Waushara County, Wisconsin, reveals several key points that can guide real estate investment decisions.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the area, set at $970 for the fiscal year 2026, exceeds the current market rent of $842 as reported by the Census ACS. This indicates that landlords could potentially increase rents to align with FMR without significantly impacting occupancy rates, assuming the local economy supports such an adjustment.
Regarding the affordability of acquisitions, the median home value stands at $280,159. However, with the lack of specific data on days on market (DOM) and the percentage of homes requiring price cuts, it's challenging to fully assess the ease of acquiring properties. Nonetheless, the median home value suggests a moderate cost for entry into the market, which could be manageable for small-portfolio investors looking for stable investments.
Tenant demand in ZIP 54960 is relatively low, given a population of 2,997 and only 12.7% of residents being renters. This implies that the pool of potential tenants is limited, which could affect the ability to quickly fill vacancies and maintain high occupancy levels.
Verdict: While the potential to raise rents exists, making the rent math favorable, the limited tenant demand poses a significant challenge. Small-portfolio investors should consider the niche rental market carefully and ensure they can manage lower occupancy rates. The median home value provides a reasonable entry point, but without concrete data on DOM and price-cut percentages, the ease of property acquisition remains uncertain. Investors should proceed with caution, focusing on areas within ZIP 54960 that show higher renter concentration or have amenities that attract tenants.
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.