HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Milwaukee County, Wisconsin (FY 2027)
$1,263 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Milwaukee County, and it's the baseline every voucher in Milwaukee is measured against.
Two-bedroom FMR
$1,263
-5.6% from FY 2026
Payment standard
$1,137–$1,389
90% to 110% of the FMR, two-bedroom
Income to afford
$50,520
a year, with rent at 30% of income
Rank in Wisconsin
12th of 72
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $985 | $887–$1,084 | $39,400 | $18.94/hr | -4.1% |
| 1 bedroom | $1,060 | $954–$1,166 | $42,400 | $20.38/hr | -5.3% |
| 2 bedroom | $1,263 | $1,137–$1,389 | $50,520 | $24.29/hr | -5.6% |
| 3 bedroom | $1,553 | $1,398–$1,708 | $62,120 | $29.87/hr | -5.8% |
| 4 bedroom | $1,664 | $1,498–$1,830 | $66,560 | $32.00/hr | -6.7% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,914 | $1,723–$2,105 |
| 6 bedroom Estimate | $2,163 | $1,947–$2,379 |
| 7 bedroom Estimate | $2,413 | $2,172–$2,654 |
| 8 bedroom Estimate | $2,662 | $2,396–$2,928 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
Two-bedrooms in Milwaukee are asking $1,254. HUD says $1,263.
The two are within a couple percent of each other. Median asking rent across 20 Milwaukee ZIP codes with active 2BR listings. FMR includes utilities and asking rents usually don't, so the true gap is a little smaller.
No card needed
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Milwaukee somewhere between $1,137 and $1,389. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,263 a month is affordable, by HUD's 30% rule, on an income of roughly $50,520 a year. Put another way, $24 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,137 | Voucher pays at 100%$1,263 | Voucher pays at 110%$1,389 |
|---|---|---|---|---|
| $2,500 | $750 | $387 | $513 | $639 |
| $4,000 | $1,200 | $0 | $63 | $189 |
Rate history
The two-bedroom rate went down 6% from FY 2026 ($1,338) to FY 2027 ($1,263). Since FY 2020 it's up 37% in total, about 4.6% a year. The Wisconsin median moved up 3% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $628 | $761 | $922 | $1,177 | $1,303 | — |
| FY 2021 | $663 | $803 | $973 | $1,242 | $1,362 | +5.5% |
| FY 2022 | $687 | $827 | $999 | $1,269 | $1,384 | +2.7% |
| FY 2023 | $766 | $909 | $1,092 | $1,374 | $1,499 | +9.3% |
| FY 2024 | $845 | $979 | $1,170 | $1,460 | $1,592 | +7.1% |
| FY 2025 | $939 | $1,056 | $1,257 | $1,558 | $1,701 | +7.4% |
| FY 2026 | $1,027 | $1,119 | $1,338 | $1,648 | $1,784 | +6.4% |
| FY 2027In effect | $985 | $1,060 | $1,263 | $1,553 | $1,664 | -5.6% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Milwaukee, that runs from $985 for a studio up to $1,664 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Milwaukee in with 3 other counties in the Milwaukee-Waukesha metro, Waukesha County, Washington County, Ozaukee County among them, and every one of them gets $1,263 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among Wisconsin's 72 counties, Milwaukee ranks 12th for two-bedroom FMR. That's about 21% above the state median of $1,041 and about 19% above the national median county at $1,063. About 926,331 people live here, 1st in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,210 in 53110 (Cudahy) and $1,890 in 53202 (Milwaukee), with the 40 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 53110 | Cudahy | $1,210 | -4.2% |
| 53129 | Greendale | $1,350 | +6.9% |
| 53130 | Hales Corners | $1,490 | +18.0% |
| 53132 | Franklin | $1,600 | +26.7% |
| 53154 | Oak Creek | $1,720 | +36.2% |
| 53172 | South Milwaukee | $1,210 | -4.2% |
| 53201 | Milwaukee | $1,230 | -2.6% |
| 53202 | Milwaukee | $1,890 | +49.6% |
| 53203 | Milwaukee | $1,890 | +49.6% |
| 53204 | Milwaukee | $1,210 | -4.2% |
| 53205 | Milwaukee | $1,210 | -4.2% |
| 53206 | Milwaukee | $1,210 | -4.2% |
| 53207 | Milwaukee | $1,320 | +4.5% |
| 53208 | Milwaukee | $1,210 | -4.2% |
| 53209 | Milwaukee | $1,210 | -4.2% |
| 53210 | Milwaukee | $1,210 | -4.2% |
| 53211 | Milwaukee | $1,560 | +23.5% |
| 53212 | Milwaukee | $1,240 | -1.8% |
| 53213 | Milwaukee | $1,430 | +13.2% |
| 53214 | Milwaukee | $1,240 | -1.8% |
| 53215 | Milwaukee | $1,210 | -4.2% |
| 53216 | Milwaukee | $1,210 | -4.2% |
| 53217 | Milwaukee | $1,720 | +36.2% |
| 53218 | Milwaukee | $1,210 | -4.2% |
| 53219 | Milwaukee | $1,210 | -4.2% |
| 53220 | Milwaukee | $1,280 | +1.3% |
| 53221 | Milwaukee | $1,320 | +4.5% |
| 53222 | Milwaukee | $1,210 | -4.2% |
| 53223 | Milwaukee | $1,260 | -0.2% |
| 53224 | Milwaukee | $1,290 | +2.1% |
| 53225 | Milwaukee | $1,210 | -4.2% |
| 53226 | Milwaukee | $1,510 | +19.6% |
| 53227 | Milwaukee | $1,310 | +3.7% |
| 53228 | Milwaukee | $1,430 | +13.2% |
| 53233 | Milwaukee | $1,210 | -4.2% |
| 53234 | Milwaukee | $1,230 | -2.6% |
| 53235 | Saint Francis | $1,210 | -4.2% |
| 53237 | Milwaukee | $1,230 | -2.6% |
| 53259 | Milwaukee | $1,263County rate | — |
| 53263 | Milwaukee | $1,263County rate | — |
Counties sharing the Milwaukee-Waukesha metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,263 two-bedroom figure as Milwaukee.
Nearby counties
Two-bedroom FMR, with how each compares to Milwaukee.
Waukesha County
16 mi · 411,762 people
$1,263
same rate
Racine County
21 mi · 197,532 people
$1,283
+2%
Ozaukee County
23 mi · 92,966 people
$1,263
same rate
Washington County
26 mi · 137,879 people
$1,263
same rate
Kenosha County
33 mi · 168,438 people
$1,441
+14%
Jefferson County
40 mi · 86,003 people
$1,209
-4%
Walworth County
40 mi · 105,657 people
$1,300
+3%
Dodge County
44 mi · 88,742 people
$1,100
-13%
Questions people ask
$1,263 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $985 for a studio, $1,060 for one bedroom, $1,553 for three and $1,664 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Milwaukee actually go for?
HUD's number is one input. Search any address in Milwaukee for a rent estimate built from nearby comps. Free to start, no card.
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