Location: Waupaca County, WI | Metro: Waupaca County, WI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The median income in ZIP code 54962 stands at $83,452. Considering the market rate for rent is $696 (based on Census ACS data), a household in this area can indeed afford the market rate. However, when comparing this figure to the Fair Market Rent (FMR) payment standard set at $1,000 for metro FY 2026, it becomes evident that there is a significant disparity. This means that landlords who rely solely on market-rate rents will find themselves competing against those who accept Section 8 vouchers.
The rental market in ZIP 54962 is relatively modest, with only 13.9% of the 1,025 residents being renters. This low percentage indicates a smaller pool of potential tenants, which could lead to increased competition among landlords for available renters. Given the affordability gap between the median income and the FMR payment standard, landlords must consider both voucher and cash-pay strategies to remain competitive.
To summarize, landlords in ZIP 54962 should be aware of the financial landscape where the median income supports market-rate rents but falls short of the FMR payment standard. Accepting Section 8 vouchers can provide a steady stream of tenants willing to pay up to $1,000, whereas focusing on cash-paying tenants might limit the number of applicants due to the lower market rate. The takeaway is that landlords should be flexible and open to both types of payment methods to maximize occupancy rates and manage their rental properties effectively.
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.