FY2027 Small Area FMR · Waterford, WI
ZIP 53185 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 53185 (Waterford, WI) is $1,450 a month, up 2.1% from FY2026. That is 15% above the Milwaukee-Waukesha, WI area-wide FMR of $1,263.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 53185 sits in the Milwaukee-Waukesha, WI area
Of the 100 ZIP codes HUD lists for the area, 53185 has the 33rd highest two-bedroom Small Area FMR. Milwaukee-Waukesha, WI is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,263 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,450 for this ZIP code instead.
ZIP code 53185 crosses more than one HUD area. HUD also lists it under Racine-Mount Pleasant, WI (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,050 | $945 – $1,155 | $985 | $980 |
| 1 bedroom | $1,170 | $1,053 – $1,287 | $1,060 | $1,140 |
| 2 bedrooms | $1,450 | $1,305 – $1,595 | $1,263 | $1,420 |
| 3 bedrooms | $1,850 | $1,665 – $2,035 | $1,553 | $1,830 |
| 4 bedrooms | $2,240 | $2,016 – $2,464 | $1,664 | $2,260 |
A household renting a two-bedroom home at the Small Area FMR of $1,450 needs about $58,000 a year to keep housing costs at 30% of income. The area median family income is $108,400 and the 80% low-income limit for four people is $86,700. ZIP code 53185 lies mainly in Racine County and Waukesha County. See the Milwaukee-Waukesha, WI metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 53185?
HUD's FY2027 Small Area Fair Market Rents for 53185 are $1,050 (studio), $1,170 (1 BR), $1,450 (2 BR), $1,850 (3 BR) and $2,240 (4 BR) a month.
What is the Section 8 payment standard in 53185?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 53185 that range is $1,305 to $1,595 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 53185?
The FY2026 income limits of the Milwaukee-Waukesha, WI area apply: median family income $108,400, low-income (80%) limit $86,700 for a family of four.