HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Milwaukee County, Wisconsin (FY 2026)
$1,338 a month. That's HUD's FY 2026 Fair Market Rent for a two-bedroom in Milwaukee County, and it's the baseline every voucher in Milwaukee is measured against.
2 bedroom FMR
$1,338
FY 2026, utilities included
Payment standard range
$1,204 to $1,472
90% to 110% of FMR
Income to afford 2BR
$53,520
per year, at 30% of income
Rank in Wisconsin
5th of 72
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Milwaukee moves to $1,263. That's down 6%. The full FY 2027 table is in the history section below.
Market check
Two-bedrooms in Milwaukee are asking $1,249. HUD says $1,338.
That's 7% below the county FMR. 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.
Comps for a specific address
A rent estimate built from nearby listings, next to the HUD number.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $1,027 | $924 to $1,130 | $41,080 | $19.75/hr | +9.4% |
| 1 bedroom | $1,119 | $1,007 to $1,231 | $44,760 | $21.52/hr | +6.0% |
| 2 bedroom | $1,338 | $1,204 to $1,472 | $53,520 | $25.73/hr | +6.4% |
| 3 bedroom | $1,648 | $1,483 to $1,813 | $65,920 | $31.69/hr | +5.8% |
| 4 bedroom | $1,784 | $1,606 to $1,962 | $71,360 | $34.31/hr | +4.9% |
5 to 8 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 | $2,052 | $1,847 to $2,257 |
| 6 bedroom Estimate | $2,319 | $2,087 to $2,551 |
| 7 bedroom Estimate | $2,587 | $2,328 to $2,846 |
| 8 bedroom Estimate | $2,854 | $2,569 to $3,139 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
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 2026 that's October 1, 2025 through September 30, 2026. In Milwaukee, that runs from $1,027 for a studio up to $1,784 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 $1,338 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 5th for two-bedroom FMR. That's about 32% above the state median of $1,010 and about 31% above the national median county at $1,018. About 933,063 people live here, 1st in the state.
Counties sharing the Milwaukee-Waukesha metro rate
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,140 in 53204 (Milwaukee) and $2,010 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 | $1,190 | -11.1% |
| 53129 | Greendale | $1,410 | +5.4% |
| 53130 | Hales Corners | $1,630 | +21.8% |
| 53132 | Franklin | $1,630 | +21.8% |
| 53154 | Oak Creek | $1,770 | +32.3% |
| 53172 | South Milwaukee | $1,270 | -5.1% |
| 53201 | Milwaukee | $1,300 | -2.8% |
| 53202 | Milwaukee | $2,010 | +50.2% |
| 53203 | Milwaukee | $2,010 | +50.2% |
| 53204 | Milwaukee | $1,140 | -14.8% |
| 53205 | Milwaukee | $1,140 | -14.8% |
| 53206 | Milwaukee | $1,140 | -14.8% |
| 53207 | Milwaukee | $1,360 | +1.6% |
| 53208 | Milwaukee | $1,220 | -8.8% |
| 53209 | Milwaukee | $1,200 | -10.3% |
| 53210 | Milwaukee | $1,210 | -9.6% |
| 53211 | Milwaukee | $1,640 | +22.6% |
| 53212 | Milwaukee | $1,280 | -4.3% |
| 53213 | Milwaukee | $1,470 | +9.9% |
| 53214 | Milwaukee | $1,310 | -2.1% |
| 53215 | Milwaukee | $1,140 | -14.8% |
| 53216 | Milwaukee | $1,140 | -14.8% |
| 53217 | Milwaukee | $1,830 | +36.8% |
| 53218 | Milwaukee | $1,160 | -13.3% |
| 53219 | Milwaukee | $1,240 | -7.3% |
| 53220 | Milwaukee | $1,340 | +0.1% |
| 53221 | Milwaukee | $1,370 | +2.4% |
| 53222 | Milwaukee | $1,270 | -5.1% |
| 53223 | Milwaukee | $1,360 | +1.6% |
| 53224 | Milwaukee | $1,400 | +4.6% |
| 53225 | Milwaukee | $1,230 | -8.1% |
| 53226 | Milwaukee | $1,540 | +15.1% |
| 53227 | Milwaukee | $1,370 | +2.4% |
| 53228 | Milwaukee | $1,510 | +12.9% |
| 53233 | Milwaukee | $1,150 | -14.1% |
| 53234 | Milwaukee | $1,300 | -2.8% |
| 53235 | Saint Francis | $1,140 | -14.8% |
| 53237 | Milwaukee | $1,300 | -2.8% |
| 53259 | Milwaukee | $1,338County rate | — |
| 53263 | Milwaukee | $1,338County rate | — |
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 $1,204 and $1,472. 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.
$1,338 a month is affordable, by HUD's 30% rule, on an income of roughly $53,520 a year. Put another way, $26 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,204) | HAP at 100% ($1,338) | HAP at 110% ($1,472) |
|---|---|---|---|---|
| $2,500 | $750 | $454 | $588 | $722 |
| $4,000 | $1,200 | $4 | $138 | $272 |
Rate history
The two-bedroom rate went up 6% from FY 2025 ($1,257) to FY 2026 ($1,338). Since FY 2020 it's up 45% in total, about 6.4% a year. The Wisconsin median moved up 1% over the same year.
| 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 2027 | $985 | $1,060 | $1,263 | $1,553 | $1,664 | -5.6% |
Nearby counties
Waukesha County
$1,33816 mi · pop 407,290
Racine County
$1,23521 mi · pop 197,068
Ozaukee County
$1,33823 mi · pop 91,745
Washington County
$1,33826 mi · pop 136,842
Kenosha County
$1,40233 mi · pop 168,693
Jefferson County
$1,15640 mi · pop 85,932
Walworth County
$1,20640 mi · pop 105,127
Dodge County
$1,08044 mi · pop 89,032
Questions people ask
$1,338 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,027 for a studio, $1,119 for one bedroom, $1,648 for three and $1,784 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the 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
See what 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. 3 free searches, no card.
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