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Jefferson County/Lake Mills/53551

53551

ZIPSAFMR
Jefferson County, WI
Zillow

ZIP Investment Score

60Below average

095130300
BRFMR
Eff. Rent
0 BR$920$920
1 BR$1,050$1,050
2 BR$1,320$1,320
3 BR$1,790$1,790
4 BR$1,800$1,800
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
$134,235

Cost breakdown

+Likely effective rent$1,320
HUD FMRUsed$1,320
Market rentN/A
Est. payment standardN/A
-Principal and interest-$679
Loan amount$107,388
Down payment$26,847
Rate6.50%
Term30 years
-Operating costs-$441
Property taxes-$134
Insurance-$175
Utilities$0
HOA$0
Management-$132
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,369(79.6% ROI)
Projected value
$144,556
Return breakdown
Property appreciation+$10,321
Loan principal paid down+$3,847
Rental cash flow+$7,200
5-year hold
+$36,501(136.0% ROI)
Projected value
$151,875
Return breakdown
Property appreciation+$17,640
Loan principal paid down+$6,861
Rental cash flow+$12,000
10-year hold
+$77,946(290.3% ROI)
Projected value
$171,832
Return breakdown
Property appreciation+$37,597
Loan principal paid down+$16,349
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 53551 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 53551 (Lake Mills, WI) is $1,320 a month. That is up 8.2% from $1,220 in FY 2026. Lake Mills is in the Jefferson 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 $1,209. Among 19 ZIP codes in Jefferson County, 53551 has the 9th-highest two-bedroom rent (county range $1,090–$1,530). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 53551 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 53551
BedroomsFY 2027Change90–110% range
Studio$920+9.5%$828–$1,012
1BR$1,050+8.2%$945–$1,155
2BR$1,320+8.2%$1,188–$1,452
3BR$1,790+11.2%$1,611–$1,969
4BR$1,800+11.1%$1,620–$1,980

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 53551
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$920$1,050$1,320$1,790$1,800
FY 2026$840$970$1,220$1,610$1,620
FY 2025$820$930$1,190$1,570$1,580
FY 2024area FMR$719$812$1,061$1,415$1,420
FY 2023area FMR$671$763$1,004$1,370$1,384

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

Two-bedroom rent in nearby Jefferson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 53551
53137$1,260−4.5%
53156$1,090−17.4%
53178$1,310−0.8%
53190$1,170−11.4%
53523$1,530+15.9%
53534$1,530+15.9%
53538$1,180−10.6%
53549$1,220−7.6%
53551Current$1,320—
53559$1,530+15.9%
53563$1,190−9.8%
53594$1,530+15.9%

Questions about ZIP 53551 rents

How much will Section 8 pay for a two-bedroom in ZIP 53551?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,209, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,088 to $1,330 a month; under the ZIP-level Small Area FMR of $1,320 it would be $1,188 to $1,452. 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 53551 in?

ZIP 53551 is in the Jefferson County, WI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,209.

How much did fair market rent change in ZIP 53551 for FY 2027?

The two-bedroom FMR rose 8.2%, from $1,220 in FY 2026 to $1,320 in FY 2027. Since FY 2025 it has risen 10.9%.

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