Skip to main content
Loading page
Oconto County/Lakewood/54138

54138

ZIPSAFMR
Oconto County, WI
Zillow

ZIP Investment Score

54Below average

095130300
BRFMR
Eff. Rent
0 BR$760$760
1 BR$830$830
2 BR$1,020$1,020
3 BR$1,340$1,340
4 BR$1,430$1,430
5 BR$1,644Not available
6 BR$1,891Not available
7 BR$2,175Not available
8 BR$2,501Not available

Purchase Price Calculator

Maximum purchase price
$89,655

Cost breakdown

+Likely effective rent$1,020
HUD FMRUsed$1,020
Market rentN/A
Est. payment standardN/A
-Principal and interest-$453
Loan amount$71,724
Down payment$17,931
Rate6.50%
Term30 years
-Operating costs-$367
Property taxes-$90
Insurance-$175
Utilities$0
HOA$0
Management-$102
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,663(92.9% ROI)
Projected value
$96,549
Return breakdown
Property appreciation+$6,894
Loan principal paid down+$2,570
Rental cash flow+$7,200
5-year hold
+$28,364(158.2% ROI)
Projected value
$101,437
Return breakdown
Property appreciation+$11,781
Loan principal paid down+$4,582
Rental cash flow+$12,000
10-year hold
+$60,030(334.8% ROI)
Projected value
$114,766
Return breakdown
Property appreciation+$25,111
Loan principal paid down+$10,919
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

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
--
Tax rate
--
Mortgage rate
--

ZIP 54138 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 54138 (Lakewood, WI) is $1,020 a month. That is down 9.7% from $1,130 in FY 2026. Lakewood is in the Oconto County, 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 $1,014. Among 21 ZIP codes in Oconto County, 54138 is tied for the 10th-highest two-bedroom rent (county range $1,010–$1,400). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 54138 is 2% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 54138
BedroomsFY 2027Change90–110% range
Studio$760−9.5%$684–$836
1BR$830−9.8%$747–$913
2BR$1,020−9.7%$918–$1,122
3BR$1,340−9.5%$1,206–$1,474
4BR$1,430−4.7%$1,287–$1,573

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 54138
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$760$830$1,020$1,340$1,430
FY 2026$840$920$1,130$1,480$1,500
FY 2025$780$860$1,060$1,340$1,410
FY 2024$730$810$1,000$1,260$1,330
FY 2023$660$720$890$1,150$1,200

Two-bedroom rent in nearby Oconto County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 54138
54114$1,010−1.0%
54124$1,010−1.0%
54137$1,100+7.8%
54138Current$1,020—
54139$1,010−1.0%
54141$1,160+13.7%
54149$1,030+1.0%
54153$1,010−1.0%
54154$1,010−1.0%
54157$1,010−1.0%
54161$1,010−1.0%
54162$1,070+4.9%

Questions about ZIP 54138 rents

How much will Section 8 pay for a two-bedroom in ZIP 54138?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,014, which applies unless the housing authority uses Small Area FMRs, that basic range is $913 to $1,115 a month; under the ZIP-level Small Area FMR of $1,020 it would be $918 to $1,122. 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 54138 in?

ZIP 54138 is in the Oconto County, WI HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,014.

How much did fair market rent change in ZIP 54138 for FY 2027?

The two-bedroom FMR fell 9.7%, from $1,130 in FY 2026 to $1,020 in FY 2027. Since FY 2023 it has risen 14.6%.

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