FMR is below market; voucher rent may lag private rents.
0.76
1 BR
1 BR
0.93ratio
FMR$1,230
Market$1,320
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.93
2 BR
2 BR
0.85ratio
FMR$1,470
Market$1,720
vs market-$250
FMR is below market; voucher rent may lag private rents.
0.85
3 BR
3 BR
0.68ratio
FMR$1,810
Market$2,650
vs market-$840
FMR is below market; voucher rent may lag private rents.
0.68
4 BR
4 BR
0.64ratio
FMR$1,940
Market$3,010
vs market-$1,070
FMR is below market; voucher rent may lag private rents.
0.64
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 53056 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 53056 (Merton, WI) is $1,470 a month. That is down 5.8% from $1,560 in FY 2026. Merton is in the Milwaukee-Waukesha, WI MSA. 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 metro-wide two-bedroom FMR of $1,263. Among 41 ZIP codes in Waukesha County, 53056 is tied for the 15th-highest two-bedroom rent (county range $1,210–$1,890). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 53056 is 41% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 53056
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,200
$1,150
−4.2%
$1,035–$1,265
1BR
$1,310
$1,230
−6.1%
$1,107–$1,353
2BR
$1,560
$1,470
−5.8%
$1,323–$1,617
3BR
$1,920
$1,810
−5.7%
$1,629–$1,991
4BR
$2,080
$1,940
−6.7%
$1,746–$2,134
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 53056
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,150
$1,230
$1,470
$1,810
$1,940
FY 2026
$1,200
$1,310
$1,560
$1,920
$2,080
FY 2025
$1,100
$1,230
$1,470
$1,820
$1,990
FY 2024
$980
$1,140
$1,360
$1,700
$1,850
FY 2023
$880
$1,050
$1,260
$1,590
$1,730
Two-bedroom rent in nearby Waukesha County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 53056?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,263, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,137 to $1,389 a month; under the ZIP-level Small Area FMR of $1,470 it would be $1,323 to $1,617. 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 53056 in?
ZIP 53056 is in the Milwaukee-Waukesha, WI MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,263.
How much did fair market rent change in ZIP 53056 for FY 2027?
The two-bedroom FMR fell 5.8%, from $1,560 in FY 2026 to $1,470 in FY 2027. Since FY 2023 it has risen 16.7%.
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