Location: Waushara 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 | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $251,021 | 0.4% | F |
| 3BR | $1,330 | $324,899 | 0.41% | F |
| 4BR | $1,350 | $404,996 | 0.33% | F |
U.S. Census Bureau data (2024)
The real estate landscape in Waupaca, Wisconsin (ZIP 54981), presents a nuanced picture for both landlords and small-portfolio investors. With a median home value at $320,103, the market indicates a relatively stable housing price environment. The fact that only 0.2% of listings have reduced their prices suggests strong seller pricing power. This is further reinforced by the non-available median days on market (DOM), which typically signifies a brisk sales pace where homes sell quickly, often before reaching a typical DOM figure.
On the rental side, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $970, while the current market rent stands at $830 based on Census ACS data. This gap signals potential upward pressure on rents, aligning with an environment where property values are likely to remain firm. Landlords can expect to see gradual increases in rental income as the market adjusts to the higher FMR levels.
For long-term hold investors, the setup in Waupaca implies a steady appreciation thesis. Given the low percentage of price reductions and the quick sale times, it's reasonable to conclude that the area will continue to attract buyers, maintaining or even slightly increasing property values over the next 12-24 months. The rental market's potential for growth supports this, as increased demand for rentals can also drive up property values due to the desirability of owning investment properties in a growing rental market.
In summary, the combination of a high median home value, minimal price reductions, and a positive rental market outlook points towards a favorable environment for those holding real estate assets in Waupaca. Investors should anticipate a continued trend of firm pricing power and the possibility of modest appreciation in both property values and rental income.
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.