FMR is below market; voucher rent may lag private rents.
0.85
2 BR
2 BR
0.91ratio
FMR$1,240
Market$1,360
vs market-$120
FMR is near market; voucher and private rents are aligned.
0.91
3 BR
3 BR
0.80ratio
FMR$1,520
Market$1,900
vs market-$380
FMR is below market; voucher rent may lag private rents.
0.80
4 BR
4 BR
0.80ratio
FMR$1,630
Market$2,050
vs market-$420
FMR is below market; voucher rent may lag private rents.
0.80
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 53295 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 53295 (Milwaukee, WI) is $1,240 a month. That is down 5.3% from $1,310 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, 53295 is tied for the 20th-highest two-bedroom rent (county range $1,210–$1,890). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 53295 is 19% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 53295
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,010
$970
−4.0%
$873–$1,067
1BR
$1,100
$1,040
−5.5%
$936–$1,144
2BR
$1,310
$1,240
−5.3%
$1,116–$1,364
3BR
$1,610
$1,520
−5.6%
$1,368–$1,672
4BR
$1,750
$1,630
−6.9%
$1,467–$1,793
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 53295
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$970
$1,040
$1,240
$1,520
$1,630
FY 2026
$1,010
$1,100
$1,310
$1,610
$1,750
FY 2025
$910
$1,020
$1,220
$1,510
$1,650
FY 2024
$830
$960
$1,150
$1,430
$1,560
FY 2023
$740
$880
$1,060
$1,330
$1,460
Two-bedroom rent in nearby Milwaukee County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 53295?
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 $1,240 it would be $1,116 to $1,364. 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 53295 in?
ZIP 53295 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 53295 for FY 2027?
The two-bedroom FMR fell 5.3%, from $1,310 in FY 2026 to $1,240 in FY 2027. Since FY 2023 it has risen 17.0%.
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