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Jefferson County/Johnson Creek/53038

53038

ZIPSAFMR
Jefferson County, WI
Zillow

ZIP Investment Score

52Below average

095130300
BRFMR
Eff. Rent
0 BR$970$1,070
1 BR$1,100$1,210
2 BR$1,390$1,430
3 BR$1,880$1,560
4 BR$1,900$1,570
5 BR$2,185Not available
6 BR$2,513Not available
7 BR$2,890Not available
8 BR$3,323Not available

Purchase Price Calculator

Maximum purchase price
$150,581

Cost breakdown

+Likely effective rent$1,430
HUD FMR$1,390
Market rent$1,450
Est. payment standard (103%)Used$1,430
-Principal and interest-$761
Loan amount$120,465
Down payment$30,116
Rate6.50%
Term30 years
-Operating costs-$469
Property taxes-$151
Insurance-$175
Utilities$0
HOA$0
Management-$143
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,094(76.7% ROI)
Projected value
$162,159
Return breakdown
Property appreciation+$11,578
Loan principal paid down+$4,316
Rental cash flow+$7,200
5-year hold
+$39,484(131.1% ROI)
Projected value
$170,368
Return breakdown
Property appreciation+$19,788
Loan principal paid down+$7,697
Rental cash flow+$12,000
10-year hold
+$84,515(280.6% ROI)
Projected value
$192,756
Return breakdown
Property appreciation+$42,175
Loan principal paid down+$18,339
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.75
1 BR
0.84
2 BR
0.96
3 BR
1.21
4 BR
1.21
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 53038 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 53038 (Johnson Creek, WI) is $1,390 a month. That is up 3.7% from $1,340 in FY 2026. Johnson Creek is in the Jefferson County, WI non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,209. Among 19 ZIP codes in Jefferson County, 53038 has the 7th-highest two-bedroom rent (county range $1,090–$1,530). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 53038 is 34% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 53038
BedroomsFY 2027Change90–110% range
Studio$970+5.4%$873–$1,067
1BR$1,100+3.8%$990–$1,210
2BR$1,390+3.7%$1,251–$1,529
3BR$1,880+6.2%$1,692–$2,068
4BR$1,900+6.7%$1,710–$2,090

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 53038
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$970$1,100$1,390$1,880$1,900
FY 2026$920$1,060$1,340$1,770$1,780
FY 2025$890$1,020$1,300$1,720$1,720
FY 2024area FMR$719$812$1,061$1,415$1,420
FY 2023area FMR$671$763$1,004$1,370$1,384

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 53038
53036$1,360−2.2%
53038Current$1,390—
53066$1,410+1.4%
53094$1,200−13.7%
53098$1,250−10.1%
53118$1,440+3.6%
53119$1,210−12.9%
53137$1,260−9.4%
53156$1,090−21.6%
53178$1,310−5.8%
53190$1,170−15.8%
53523$1,530+10.1%

Questions about ZIP 53038 rents

How much will Section 8 pay for a two-bedroom in ZIP 53038?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,209, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,088 to $1,330 a month; under the ZIP-level Small Area FMR of $1,390 it would be $1,251 to $1,529. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 53038 in?

ZIP 53038 is in the Jefferson County, WI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,209.

How much did fair market rent change in ZIP 53038 for FY 2027?

The two-bedroom FMR rose 3.7%, from $1,340 in FY 2026 to $1,390 in FY 2027. Since FY 2025 it has risen 6.9%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentJohnson Creek, WI fair market rentWI statewide rentsWhat is SAFMR?Data sources