FMR is below market; voucher rent may lag private rents.
0.75
1 BR
1 BR
0.83ratio
FMR$940
Market$1,130
vs market-$190
FMR is below market; voucher rent may lag private rents.
0.83
2 BR
2 BR
0.97ratio
FMR$1,200
Market$1,240
vs market-$40
FMR is near market; voucher and private rents are aligned.
0.97
3 BR
3 BR
1.11ratio
FMR$1,620
Market$1,460
vs market+$160
FMR is above market; underwrite to market rent.
1.11
4 BR
4 BR
1.09ratio
FMR$1,650
Market$1,520
vs market+$130
FMR is near market; voucher and private rents are aligned.
1.09
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 54903 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 54903 (Oshkosh, WI) is $1,200 a month. That is up 4.3% from $1,150 in FY 2026. Oshkosh is in the Oshkosh-Neenah, WI MSA. 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 $1,195. Among 21 ZIP codes in Winnebago County, 54903 is tied for the 8th-highest two-bedroom rent (county range $1,040–$1,460). The median county two-bedroom FMR in Wisconsin is $1,041, so ZIP 54903 is 15% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 54903
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$880
$910
+3.4%
$819–$1,001
1BR
$890
$940
+5.6%
$846–$1,034
2BR
$1,150
$1,200
+4.3%
$1,080–$1,320
3BR
$1,540
$1,620
+5.2%
$1,458–$1,782
4BR
$1,650
$1,650
0.0%
$1,485–$1,815
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 54903
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$910
$940
$1,200
$1,620
$1,650
FY 2026
$880
$890
$1,150
$1,540
$1,650
FY 2025
$790
$820
$1,060
$1,420
$1,590
FY 2024
$770
$780
$1,010
$1,350
$1,570
FY 2023
$710
$740
$950
$1,280
$1,500
Two-bedroom rent in nearby Winnebago County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 54903?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,195, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,076 to $1,315 a month; under the ZIP-level Small Area FMR of $1,200 it would be $1,080 to $1,320. 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 54903 in?
ZIP 54903 is in the Oshkosh-Neenah, WI MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,195.
How much did fair market rent change in ZIP 54903 for FY 2027?
The two-bedroom FMR rose 4.3%, from $1,150 in FY 2026 to $1,200 in FY 2027. Since FY 2023 it has risen 26.3%.
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