FY2027 Small Area FMR · Waukesha, WI

ZIP 53187 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 53187 (Waukesha, WI) is $1,470 a month, down 5.8% from FY2026. That is 16% above the Milwaukee-Waukesha, WI area-wide FMR of $1,263.

2-bedroom SAFMR$1,470per month ▼ 5.8%

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

Rank in the area26thof 100 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,323

2 BR Small Area FMR$1,470

110% of SAFMR$1,617

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

Studio$1,150▼ 4.2%

1 BR$1,230▼ 6.1%

2 BR$1,470▼ 5.8%

3 BR$1,810▼ 5.7%

4 BR$1,940▼ 6.7%

FY2027 FY2026

Where 53187 sits in the Milwaukee-Waukesha, WI area

Of the 100 ZIP codes HUD lists for the area, 53187 has the 26th 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 $1,470 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	$1,150	$1,035 – $1,265	$985	$1,200
1 bedroom	$1,230	$1,107 – $1,353	$1,060	$1,310
2 bedrooms	$1,470	$1,323 – $1,617	$1,263	$1,560
3 bedrooms	$1,810	$1,629 – $1,991	$1,553	$1,920
4 bedrooms	$1,940	$1,746 – $2,134	$1,664	$2,080

A household renting a two-bedroom home at the Small Area FMR of $1,470 needs about $58,800 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 53187 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
53186	Waukesha	1.5 mi	$1,430
53188	Waukesha	3.4 mi	$1,520
53146	New Berlin	4.7 mi	$1,350
53072	Pewaukee	5.0 mi	$1,530
53045	Brookfield	5.1 mi	$1,890
53189	Waukesha	5.6 mi	$1,370

Questions

What is the Fair Market Rent for ZIP code 53187?

HUD's FY2027 Small Area Fair Market Rents for 53187 are $1,150 (studio), $1,230 (1 BR), $1,470 (2 BR), $1,810 (3 BR) and $1,940 (4 BR) a month.

What is the Section 8 payment standard in 53187?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 53187 that range is $1,323 to $1,617 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 53187?

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.