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Waukesha County/Waukesha/53189

53189

ZIPSAFMR
Waukesha County, WI
Zillow

ZIP Investment Score

60Below average

095130300
BRFMR
Eff. Rent
0 BR$1,070$1,080
1 BR$1,150$1,060
2 BR$1,370$1,510
3 BR$1,680$1,850
4 BR$1,800$1,980
5 BR$2,070Not available
6 BR$2,380Not available
7 BR$2,738Not available
8 BR$3,148Not available

Purchase Price Calculator

Maximum purchase price
$162,469

Cost breakdown

+Likely effective rent$1,510
HUD FMR$1,370
Market rent$1,810
Est. payment standard (110%)Used$1,510
-Principal and interest-$822
Loan amount$129,975
Down payment$32,494
Rate6.50%
Term30 years
-Operating costs-$488
Property taxes-$162
Insurance-$175
Utilities$0
HOA$0
Management-$151
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,349(74.9% ROI)
Projected value
$174,961
Return breakdown
Property appreciation+$12,492
Loan principal paid down+$4,657
Rental cash flow+$7,200
5-year hold
+$41,654(128.2% ROI)
Projected value
$183,819
Return breakdown
Property appreciation+$21,350
Loan principal paid down+$8,304
Rental cash flow+$12,000
10-year hold
+$89,292(274.8% ROI)
Projected value
$207,974
Return breakdown
Property appreciation+$45,505
Loan principal paid down+$19,787
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.98
1 BR
1.08
2 BR
0.76
3 BR
0.74
4 BR
0.72
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 53189 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 53189 (Waukesha, WI) is $1,370 a month. That is down 6.2% from $1,460 in FY 2026. Waukesha 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, 53189 has the 28th-highest two-bedroom rent (county range $1,210–$1,890). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 53189 is 32% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 53189
BedroomsFY 2027Change90–110% range
Studio$1,070−4.5%$963–$1,177
1BR$1,150−5.7%$1,035–$1,265
2BR$1,370−6.2%$1,233–$1,507
3BR$1,680−6.7%$1,512–$1,848
4BR$1,800−7.7%$1,620–$1,980

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 53189
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,070$1,150$1,370$1,680$1,800
FY 2026$1,120$1,220$1,460$1,800$1,950
FY 2025$1,050$1,180$1,400$1,740$1,890
FY 2024$960$1,110$1,330$1,660$1,810
FY 2023$890$1,060$1,270$1,600$1,740

Two-bedroom rent in nearby Waukesha County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 53189
53151$1,710+24.8%
53153$1,300−5.1%
53178$1,310−4.4%
53183$1,580+15.3%
53185$1,450+5.8%
53186$1,430+4.4%
53187$1,470+7.3%
53188$1,520+10.9%
53189Current$1,370—
53224$1,290−5.8%
53225$1,210−11.7%
53227$1,310−4.4%

Questions about ZIP 53189 rents

How much will Section 8 pay for a two-bedroom in ZIP 53189?

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 $1,370 it would be $1,233 to $1,507. 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 53189 in?

ZIP 53189 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 53189 for FY 2027?

The two-bedroom FMR fell 6.2%, from $1,460 in FY 2026 to $1,370 in FY 2027. Since FY 2023 it has risen 7.9%.

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