HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Waukesha County, Wisconsin (FY 2027)
$1,263 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Waukesha County, and it's the baseline every voucher in Waukesha 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
15th 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
HUD's number is one input. What does a two-bedroom in Waukesha actually rent for?
Search any address in Waukesha for a rent estimate built from nearby comps, with the HUD figure right next to it.
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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 Waukesha 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 Waukesha, 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 Waukesha in with 3 other counties in the Milwaukee-Waukesha metro, Milwaukee 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, Waukesha ranks 15th 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 411,762 people live here, 3rd 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 53007 (Butler) and $1,890 in 53005 (Brookfield), with the 31 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 |
|---|---|---|---|
| 53005 | Brookfield | $1,890 | +49.6% |
| 53007 | Butler | $1,210 | -4.2% |
| 53008 | Brookfield | $1,470 | +16.4% |
| 53018 | Delafield | $1,760 | +39.4% |
| 53029 | Hartland | $1,300 | +2.9% |
| 53045 | Brookfield | $1,890 | +49.6% |
| 53046 | Lannon | $1,470 | +16.4% |
| 53051 | Menomonee Falls | $1,550 | +22.7% |
| 53052 | Menomonee Falls | $1,470 | +16.4% |
| 53056 | Merton | $1,470 | +16.4% |
| 53058 | Nashotah | $1,560 | +23.5% |
| 53064 | North Lake | $1,470 | +16.4% |
| 53066 | Oconomowoc | $1,410 | +11.6% |
| 53069 | Okauchee | $1,470 | +16.4% |
| 53072 | Pewaukee | $1,530 | +21.1% |
| 53089 | Sussex | $1,490 | +18.0% |
| 53103 | Big Bend | $1,210 | -4.2% |
| 53118 | Dousman | $1,440 | +14.0% |
| 53119 | Eagle | $1,210 | -4.2% |
| 53122 | Elm Grove | $1,860 | +47.3% |
| 53127 | Genesee Depot | $1,340 | +6.1% |
| 53146 | New Berlin | $1,350 | +6.9% |
| 53149 | Mukwonago | $1,270 | +0.6% |
| 53150 | Muskego | $1,410 | +11.6% |
| 53151 | New Berlin | $1,710 | +35.4% |
| 53153 | North Prairie | $1,300 | +2.9% |
| 53183 | Wales | $1,580 | +25.1% |
| 53186 | Waukesha | $1,430 | +13.2% |
| 53187 | Waukesha | $1,470 | +16.4% |
| 53188 | Waukesha | $1,520 | +20.3% |
| 53189 | Waukesha | $1,370 | +8.5% |
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 Waukesha.
Nearby counties
Two-bedroom FMR, with how each compares to Waukesha.
Milwaukee County
16 mi · 926,331 people
$1,263
same rate
Washington County
21 mi · 137,879 people
$1,263
same rate
Jefferson County
25 mi · 86,003 people
$1,209
-4%
Ozaukee County
27 mi · 92,966 people
$1,263
same rate
Racine County
27 mi · 197,532 people
$1,283
+2%
Dodge County
32 mi · 88,742 people
$1,100
-13%
Walworth County
32 mi · 105,657 people
$1,300
+3%
Kenosha County
35 mi · 168,438 people
$1,441
+14%
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 Waukesha actually go for?
HUD's number is one input. Search any address in Waukesha for a rent estimate built from nearby comps. Free to start, no card.
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