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Dane County/Waterloo/53594

53594

ZIPSAFMR
Dane County, WI
Zillow

ZIP Investment Score

61Below average

095130300
BRFMR
Eff. Rent
0 BR$1,150$1,150
1 BR$1,340$1,340
2 BR$1,530$1,530
3 BR$2,020$2,020
4 BR$2,260$2,260
5 BR$2,599Not available
6 BR$2,989Not available
7 BR$3,437Not available
8 BR$3,953Not available

Purchase Price Calculator

Maximum purchase price
$165,441

Cost breakdown

+Likely effective rent$1,530
HUD FMRUsed$1,530
Market rentN/A
Est. payment standardN/A
-Principal and interest-$837
Loan amount$132,353
Down payment$33,088
Rate6.50%
Term30 years
-Operating costs-$493
Property taxes-$165
Insurance-$175
Utilities$0
HOA$0
Management-$153
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,663(74.5% ROI)
Projected value
$178,162
Return breakdown
Property appreciation+$12,721
Loan principal paid down+$4,742
Rental cash flow+$7,200
5-year hold
+$42,196(127.5% ROI)
Projected value
$187,181
Return breakdown
Property appreciation+$21,740
Loan principal paid down+$8,456
Rental cash flow+$12,000
10-year hold
+$90,487(273.5% ROI)
Projected value
$211,778
Return breakdown
Property appreciation+$46,337
Loan principal paid down+$20,149
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 53594 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 53594 (Waterloo, WI) is $1,530 a month. That is up 15.0% from $1,330 in FY 2026. Waterloo is in the Madison, WI HUD Metro 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 metro-wide two-bedroom FMR of $1,565. Among 52 ZIP codes in Dane County, 53594 is tied for the 23rd-highest two-bedroom rent (county range $1,530–$1,900). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 53594 is 47% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 53594
BedroomsFY 2027Change90–110% range
Studio$1,150+17.3%$1,035–$1,265
1BR$1,340+15.5%$1,206–$1,474
2BR$1,530+15.0%$1,377–$1,683
3BR$2,020+15.4%$1,818–$2,222
4BR$2,260+15.9%$2,034–$2,486

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 53594
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,150$1,340$1,530$2,020$2,260
FY 2026$980$1,160$1,330$1,750$1,950
FY 2025$910$1,070$1,240$1,630$1,790
FY 2024$910$1,070$1,250$1,630$1,840
FY 2023$840$970$1,130$1,510$1,760

Two-bedroom rent in nearby Dane County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 53594
53562$1,630+6.5%
53571$1,5300.0%
53572$1,5300.0%
53574$1,5300.0%
53575$1,5300.0%
53583$1,5300.0%
53589$1,5300.0%
53590$1,620+5.9%
53593$1,790+17.0%
53594Current$1,530—
53597$1,560+2.0%
53598$1,760+15.0%

Questions about ZIP 53594 rents

How much will Section 8 pay for a two-bedroom in ZIP 53594?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,565, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,409 to $1,722 a month; under the ZIP-level Small Area FMR of $1,530 it would be $1,377 to $1,683. 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 53594 in?

ZIP 53594 is in the Madison, WI HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,565.

How much did fair market rent change in ZIP 53594 for FY 2027?

The two-bedroom FMR rose 15.0%, from $1,330 in FY 2026 to $1,530 in FY 2027. Since FY 2023 it has risen 35.4%.

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