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Milwaukee County/Milwaukee/53218

53218

ZIPSAFMR
Milwaukee County, WI
Zillow

ZIP Investment Score

156High yield potential

095130300
BRFMR
Eff. Rent
0 BR$930$1,020
1 BR$1,010$1,110
2 BR$1,210$1,230
3 BR$1,490$1,620
4 BR$1,610$1,620
5 BR$1,851Not available
6 BR$2,129Not available
7 BR$2,449Not available
8 BR$2,816Not available

Purchase Price Calculator

Maximum purchase price
$120,861

Cost breakdown

+Likely effective rent$1,230
HUD FMR$1,210
Market rent$1,240
Est. payment standard (102%)Used$1,230
-Principal and interest-$611
Loan amount$96,689
Down payment$24,172
Rate6.50%
Term30 years
-Operating costs-$419
Property taxes-$121
Insurance-$175
Utilities$0
HOA$0
Management-$123
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,957(82.6% ROI)
Projected value
$130,154
Return breakdown
Property appreciation+$9,293
Loan principal paid down+$3,464
Rental cash flow+$7,200
5-year hold
+$34,060(140.9% ROI)
Projected value
$136,743
Return breakdown
Property appreciation+$15,882
Loan principal paid down+$6,177
Rental cash flow+$12,000
10-year hold
+$72,571(300.2% ROI)
Projected value
$154,712
Return breakdown
Property appreciation+$33,851
Loan principal paid down+$14,720
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.76
1 BR
0.85
2 BR
0.98
3 BR
0.88
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 53218 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 53218 (Milwaukee, WI) is $1,210 a month. That is up 4.3% from $1,160 in FY 2026. Milwaukee 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 43 ZIP codes in Milwaukee County, 53218 is tied for the 27th-highest two-bedroom rent (county range $1,210–$1,890). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 53218 is 16% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 53218
BedroomsFY 2027Change90–110% range
Studio$930+4.5%$837–$1,023
1BR$1,010+4.1%$909–$1,111
2BR$1,210+4.3%$1,089–$1,331
3BR$1,490+4.2%$1,341–$1,639
4BR$1,610+3.9%$1,449–$1,771

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 53218
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$930$1,010$1,210$1,490$1,610
FY 2026$890$970$1,160$1,430$1,550
FY 2025$810$920$1,090$1,350$1,480
FY 2024$750$870$1,040$1,300$1,420
FY 2023$690$820$990$1,250$1,360

Two-bedroom rent in nearby Milwaukee County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 53218
53212$1,240+2.5%
53213$1,430+18.2%
53214$1,240+2.5%
53215$1,2100.0%
53216$1,2100.0%
53217$1,720+42.1%
53218Current$1,210—
53219$1,2100.0%
53220$1,280+5.8%
53221$1,320+9.1%
53222$1,2100.0%
53223$1,260+4.1%

Questions about ZIP 53218 rents

How much will Section 8 pay for a two-bedroom in ZIP 53218?

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 $1,210 it would be $1,089 to $1,331. 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 53218 in?

ZIP 53218 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 53218 for FY 2027?

The two-bedroom FMR rose 4.3%, from $1,160 in FY 2026 to $1,210 in FY 2027. Since FY 2023 it has risen 22.2%.

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