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Vilas County/Manitowish Waters/54545

54545

ZIPSAFMR
Vilas County, WI
Zillow

ZIP Investment Score

17Below average

095130300
BRFMR
Eff. Rent
0 BR$950$950
1 BR$1,010$1,010
2 BR$1,310$1,310
3 BR$1,560$1,560
4 BR$1,720$1,720
5 BR$1,978Not available
6 BR$2,275Not available
7 BR$2,616Not available
8 BR$3,008Not available

Purchase Price Calculator

Maximum purchase price
$132,749

Cost breakdown

+Likely effective rent$1,310
HUD FMRUsed$1,310
Market rentN/A
Est. payment standardN/A
-Principal and interest-$671
Loan amount$106,199
Down payment$26,550
Rate6.50%
Term30 years
-Operating costs-$439
Property taxes-$133
Insurance-$175
Utilities$0
HOA$0
Management-$131
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,212(79.9% ROI)
Projected value
$142,956
Return breakdown
Property appreciation+$10,207
Loan principal paid down+$3,805
Rental cash flow+$7,200
5-year hold
+$36,229(136.5% ROI)
Projected value
$150,193
Return breakdown
Property appreciation+$17,444
Loan principal paid down+$6,785
Rental cash flow+$12,000
10-year hold
+$77,349(291.3% ROI)
Projected value
$169,930
Return breakdown
Property appreciation+$37,181
Loan principal paid down+$16,168
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 54545 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 54545 (Manitowish Waters, WI) is $1,310 a month. That is up 2.3% from $1,280 in FY 2026. Manitowish Waters is in the Vilas 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 $1,022. Among 13 ZIP codes in Vilas County, 54545 has the 2nd-highest two-bedroom rent (county range $1,010–$1,320). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 54545 is 26% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 54545
BedroomsFY 2027Change90–110% range
Studio$950−6.9%$855–$1,045
1BR$1,010−1.9%$909–$1,111
2BR$1,310+2.3%$1,179–$1,441
3BR$1,560+1.3%$1,404–$1,716
4BR$1,720+1.2%$1,548–$1,892

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 54545
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$950$1,010$1,310$1,560$1,720
FY 2026$1,020$1,030$1,280$1,540$1,700
FY 2025$1,030$1,030$1,280$1,550$1,750
FY 2024area FMR$707$712$905$1,094$1,205
FY 2023area FMR$623$628$826$1,005$1,110

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

Two-bedroom rent in nearby Vilas County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 54545
54519$1,040−20.6%
54521$1,090−16.8%
54538$1,010−22.9%
54540$1,010−22.9%
54545Current$1,310—
54548$1,090−16.8%
54554$1,010−22.9%
54557$1,180−9.9%
54558$1,090−16.8%
54560$1,320+0.8%
54561$1,150−12.2%
54568$1,030−21.4%

Questions about ZIP 54545 rents

How much will Section 8 pay for a two-bedroom in ZIP 54545?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,022, which applies unless the housing authority uses Small Area FMRs, that basic range is $920 to $1,124 a month; under the ZIP-level Small Area FMR of $1,310 it would be $1,179 to $1,441. 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 54545 in?

ZIP 54545 is in the Vilas County, WI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,022.

How much did fair market rent change in ZIP 54545 for FY 2027?

The two-bedroom FMR rose 2.3%, from $1,280 in FY 2026 to $1,310 in FY 2027. Since FY 2025 it has risen 2.3%.

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