HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Waupaca County, Wisconsin (FY 2027)
A two-bedroom in Waupaca County carries a FY 2027 Fair Market Rent of $1,014 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Waupaca keys off that figure.
Two-bedroom FMR
$1,014
+4.2% from FY 2026
Payment standard
$913–$1,115
90% to 110% of the FMR, two-bedroom
Income to afford
$40,560
a year, with rent at 30% of income
Rank in Wisconsin
70th 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 | $810 | $729–$891 | $32,400 | $15.58/hr | +6.0% |
| 1 bedroom | $815 | $734–$897 | $32,600 | $15.67/hr | +4.6% |
| 2 bedroom | $1,014 | $913–$1,115 | $40,560 | $19.50/hr | +4.2% |
| 3 bedroom | $1,328 | $1,195–$1,461 | $53,120 | $25.54/hr | +3.5% |
| 4 bedroom | $1,333 | $1,200–$1,466 | $53,320 | $25.63/hr | +3.5% |
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 | $1,533 | $1,380–$1,686 |
| 6 bedroom Estimate | $1,733 | $1,560–$1,906 |
| 7 bedroom Estimate | $1,933 | $1,740–$2,126 |
| 8 bedroom Estimate | $2,133 | $1,920–$2,346 |
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 Waupaca actually rent for?
Search any address in Waupaca 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 Waupaca somewhere between $913 and $1,115. 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.
$1,014 a month is affordable, by HUD's 30% rule, on an income of roughly $40,560 a year. Put another way, $20 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%$913 | Voucher pays at 100%$1,014 | Voucher pays at 110%$1,115 |
|---|---|---|---|---|
| $2,500 | $750 | $163 | $264 | $365 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 4% from FY 2026 ($973) to FY 2027 ($1,014). Since FY 2020 it's up 39% in total, about 4.8% 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 | $494 | $600 | $729 | $1,011 | $1,090 | — |
| FY 2021 | $500 | $610 | $734 | $1,019 | $1,136 | +0.7% |
| FY 2022 | $523 | $620 | $758 | $1,056 | $1,209 | +3.3% |
| FY 2023 | $579 | $676 | $826 | $1,174 | $1,223 | +9.0% |
| FY 2024 | $635 | $745 | $905 | $1,258 | $1,262 | +9.6% |
| FY 2025 | $735 | $769 | $933 | $1,232 | $1,237 | +3.1% |
| FY 2026 | $764 | $779 | $973 | $1,283 | $1,288 | +4.3% |
| FY 2027In effect | $810 | $815 | $1,014 | $1,328 | $1,333 | +4.2% |
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 Waupaca, that runs from $810 for a studio up to $1,333 for four bedrooms, all five rates in the table above.
Because Waupaca sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Iola included.
Among Wisconsin's 72 counties, Waupaca ranks 70th for two-bedroom FMR. That's about 3% below the state median of $1,041 and about 5% below the national median county at $1,063. About 51,569 people live here, 29th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,010 in 54933 (Embarrass) and $1,120 in 54929 (Clintonville), with the 14 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 |
|---|---|---|---|
| 54926 | Big Falls | $1,050 | +3.6% |
| 54929 | Clintonville | $1,120 | +10.5% |
| 54933 | Embarrass | $1,010 | -0.4% |
| 54940 | Fremont | $1,120 | +10.5% |
| 54945 | Iola | $1,010 | -0.4% |
| 54946 | King | $1,010 | -0.4% |
| 54949 | Manawa | $1,010 | -0.4% |
| 54950 | Marion | $1,010 | -0.4% |
| 54961 | New London | $1,120 | +10.5% |
| 54962 | Ogdensburg | $1,010 | -0.4% |
| 54969 | Readfield | $1,010 | -0.4% |
| 54977 | Scandinavia | $1,040 | +2.6% |
| 54981 | Waupaca | $1,010 | -0.4% |
| 54983 | Weyauwega | $1,080 | +6.5% |
| 54990 | Iola | $1,014County rate | — |
Nearby counties
Two-bedroom FMR, with how each compares to Waupaca.
Portage County
25 mi · 70,832 people
$1,077
+6%
Outagamie County
26 mi · 192,826 people
$1,256
+24%
Shawano County
26 mi · 41,039 people
$1,014
same rate
Waushara County
27 mi · 24,868 people
$1,014
same rate
Winnebago County
31 mi · 171,769 people
$1,195
+18%
Menominee County
35 mi · 4,252 people
$1,014
same rate
Brown County
45 mi · 270,892 people
$1,287
+27%
Calumet County
45 mi · 52,942 people
$1,256
+24%
Questions people ask
$1,014 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $810 for a studio, $815 for one bedroom, $1,328 for three and $1,333 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 Waupaca actually go for?
HUD's number is one input. Search any address in Waupaca for a rent estimate built from nearby comps. Free to start, no card.
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