Location: La Crosse-Onalaska, WI | Metro: La Crosse-Onalaska, WI-MN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
The market in ZIP 55931 presents a dynamic environment for landlords and small-portfolio investors. With a Fair Market Rent (FMR) of $930 for the fiscal year 2024, the rental prices are set at a level that reflects the local economy's capacity to pay. However, the actual market rent as reported by the Census ACS is significantly lower at $542. This discrepancy suggests that the rental market in 55931 is currently experiencing a situation where supply may be outpacing demand.
The 19.2% renter share indicates a smaller proportion of the population is renting compared to owning homes. While this might suggest less immediate pressure on the rental market, it also points to a potential long-term trend. A lower renter share can imply that homeownership is accessible to a significant portion of the population, which could mean that any economic shifts leading to decreased affordability could quickly increase the demand for rentals. This underscores the importance of monitoring broader economic indicators and trends in homeownership rates.
Despite the lack of specific data on price-cut share, days on market (DOM), and median home value, the gap between the FMR and the market rent provides insight into the current state of the rental market. Landlords and investors should consider this gap when setting their rental prices and evaluating the potential for rental income growth. It also highlights the opportunity to offer affordable housing options that align with the market rent while still being within the bounds of the FMR.
In summary, ZIP 55931 is a market where supply currently exceeds demand, as evidenced by the lower market rent relative to the FMR. The relatively low renter share suggests a stable but potentially volatile housing pressure scenario, where changes in the broader economic landscape could rapidly alter the balance between supply and demand. For those looking to invest in this area, understanding these dynamics is crucial for making informed decisions.
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.