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Dodge County/Watertown/53098

53098

ZIPSAFMR
Dodge County, WI
Zillow

ZIP Investment Score

60Below average

095130300
BRFMR
Eff. Rent
0 BR$890$890
1 BR$1,000$1,000
2 BR$1,250$1,250
3 BR$1,660$1,660
4 BR$1,660$1,660
5 BR$1,909Not available
6 BR$2,195Not available
7 BR$2,525Not available
8 BR$2,903Not available

Purchase Price Calculator

Maximum purchase price
$123,833

Cost breakdown

+Likely effective rent$1,250
HUD FMRUsed$1,250
Market rentN/A
Est. payment standardN/A
-Principal and interest-$626
Loan amount$99,066
Down payment$24,767
Rate6.50%
Term30 years
-Operating costs-$424
Property taxes-$124
Insurance-$175
Utilities$0
HOA$0
Management-$125
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,271(81.8% ROI)
Projected value
$133,355
Return breakdown
Property appreciation+$9,522
Loan principal paid down+$3,549
Rental cash flow+$7,200
5-year hold
+$34,602(139.7% ROI)
Projected value
$140,106
Return breakdown
Property appreciation+$16,273
Loan principal paid down+$6,329
Rental cash flow+$12,000
10-year hold
+$73,765(297.8% ROI)
Projected value
$158,517
Return breakdown
Property appreciation+$34,684
Loan principal paid down+$15,082
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 53098 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 53098 (Watertown, WI) is $1,250 a month. That is down 0.8% from $1,260 in FY 2026. Watertown is in the Dodge 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 $1,100. Among 32 ZIP codes in Dodge County, 53098 has the 9th-highest two-bedroom rent (county range $1,010–$1,530). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 53098 is 20% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 53098
BedroomsFY 2027Change90–110% range
Studio$890+2.3%$801–$979
1BR$1,000−2.0%$900–$1,100
2BR$1,250−0.8%$1,125–$1,375
3BR$1,660−2.4%$1,494–$1,826
4BR$1,660−4.0%$1,494–$1,826

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 53098
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$890$1,000$1,250$1,660$1,660
FY 2026$870$1,020$1,260$1,700$1,730
FY 2025$840$980$1,220$1,660$1,740
FY 2024area FMR$658$768$971$1,313$1,411
FY 2023area FMR$621$727$929$1,245$1,367

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

Two-bedroom rent in nearby Dodge County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 53098
53039$1,010−19.2%
53047$1,010−19.2%
53048$1,240−0.8%
53050$1,010−19.2%
53059$1,010−19.2%
53065$1,170−6.4%
53066$1,410+12.8%
53078$1,180−5.6%
53091$1,210−3.2%
53094$1,200−4.0%
53098Current$1,250—
53099$1,240−0.8%

Questions about ZIP 53098 rents

How much will Section 8 pay for a two-bedroom in ZIP 53098?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,100, which applies unless the housing authority uses Small Area FMRs, that basic range is $990 to $1,210 a month; under the ZIP-level Small Area FMR of $1,250 it would be $1,125 to $1,375. 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 53098 in?

ZIP 53098 is in the Dodge County, WI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,100.

How much did fair market rent change in ZIP 53098 for FY 2027?

The two-bedroom FMR fell 0.8%, from $1,260 in FY 2026 to $1,250 in FY 2027. Since FY 2025 it has risen 2.5%.

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 rentWatertown, WI fair market rentWI statewide rentsWhat is SAFMR?Data sources