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Dane County/Waunakee/53597

53597

ZIPSAFMR
Dane County, WI
Zillow

ZIP Investment Score

46Below average

095130300
BRFMR
Eff. Rent
0 BR$1,190$1,260
1 BR$1,370$1,270
2 BR$1,560$1,720
3 BR$2,040$2,240
4 BR$2,260$2,490
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
$193,675

Cost breakdown

+Likely effective rent$1,720
HUD FMR$1,560
Market rent$1,940
Est. payment standard (110%)Used$1,720
-Principal and interest-$979
Loan amount$154,940
Down payment$38,735
Rate6.50%
Term30 years
-Operating costs-$541
Property taxes-$194
Insurance-$175
Utilities$0
HOA$0
Management-$172
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,643(71.4% ROI)
Projected value
$208,567
Return breakdown
Property appreciation+$14,892
Loan principal paid down+$5,551
Rental cash flow+$7,200
5-year hold
+$47,350(122.2% ROI)
Projected value
$219,125
Return breakdown
Property appreciation+$25,450
Loan principal paid down+$9,899
Rental cash flow+$12,000
10-year hold
+$101,833(262.9% ROI)
Projected value
$247,920
Return breakdown
Property appreciation+$54,245
Loan principal paid down+$23,588
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.92
1 BR
1.08
2 BR
0.80
3 BR
0.80
4 BR
0.78
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 53597 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 53597 (Waunakee, WI) is $1,560 a month. That is down 6.6% from $1,670 in FY 2026. Waunakee 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, 53597 has the 22nd-highest two-bedroom rent (county range $1,530–$1,900). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 53597 is 50% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 53597
BedroomsFY 2027Change90–110% range
Studio$1,190−4.8%$1,071–$1,309
1BR$1,370−6.2%$1,233–$1,507
2BR$1,560−6.6%$1,404–$1,716
3BR$2,040−7.3%$1,836–$2,244
4BR$2,260−8.5%$2,034–$2,486

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 53597
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,190$1,370$1,560$2,040$2,260
FY 2026$1,250$1,460$1,670$2,200$2,470
FY 2025$1,040$1,240$1,420$1,870$2,080
FY 2024$940$1,110$1,290$1,700$1,870
FY 2023$940$1,110$1,290$1,690$1,910

Two-bedroom rent in nearby Dane County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 53597
53562$1,630+4.5%
53571$1,530−1.9%
53572$1,530−1.9%
53574$1,530−1.9%
53575$1,530−1.9%
53583$1,530−1.9%
53589$1,530−1.9%
53590$1,620+3.8%
53593$1,790+14.7%
53594$1,530−1.9%
53597Current$1,560—
53598$1,760+12.8%

Questions about ZIP 53597 rents

How much will Section 8 pay for a two-bedroom in ZIP 53597?

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 $1,560 it would be $1,404 to $1,716. 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 53597 in?

ZIP 53597 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 53597 for FY 2027?

The two-bedroom FMR fell 6.6%, from $1,670 in FY 2026 to $1,560 in FY 2027. Since FY 2023 it has risen 20.9%.

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