FY2027 Small Area FMR · Waukesha, WI

ZIP 53186 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 53186 (Waukesha, WI) is $1,430 a month, down 2.1% from FY2026. That is 13% above the Milwaukee-Waukesha, WI area-wide FMR of $1,263.

2-bedroom SAFMR$1,430per month ▼ 2.1%

Area-wide 2 BR FMR$1,263Milwaukee-Waukesha, WI

Rank in the area35thof 100 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,287

2 BR Small Area FMR$1,430

110% of SAFMR$1,573

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,120■ 0.0%

1 BR$1,200▼ 1.6%

2 BR$1,430▼ 2.1%

3 BR$1,760▼ 2.2%

4 BR$1,880▼ 3.6%

FY2027 FY2026

Where 53186 sits in the Milwaukee-Waukesha, WI area

Of the 100 ZIP codes HUD lists for the area, 53186 has the 35th 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 $1,430 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,120	$1,008 – $1,232	$985	$1,120
1 bedroom	$1,200	$1,080 – $1,320	$1,060	$1,220
2 bedrooms	$1,430	$1,287 – $1,573	$1,263	$1,460
3 bedrooms	$1,760	$1,584 – $1,936	$1,553	$1,800
4 bedrooms	$1,880	$1,692 – $2,068	$1,664	$1,950

A household renting a two-bedroom home at the Small Area FMR of $1,430 needs about $57,200 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 53186 lies mainly in Waukesha County. See the Milwaukee-Waukesha, WI metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
53045	Brookfield	3.7 mi	$1,890
53146	New Berlin	4.2 mi	$1,350
53188	Waukesha	4.6 mi	$1,520
53072	Pewaukee	5.1 mi	$1,530
53005	Brookfield	6.0 mi	$1,890
53122	Elm Grove	6.2 mi	$1,860

Questions

What is the Fair Market Rent for ZIP code 53186?

HUD's FY2027 Small Area Fair Market Rents for 53186 are $1,120 (studio), $1,200 (1 BR), $1,430 (2 BR), $1,760 (3 BR) and $1,880 (4 BR) a month.

What is the Section 8 payment standard in 53186?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 53186 that range is $1,287 to $1,573 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 53186?

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.