FY2027 Small Area FMR · Waterloo, WI
ZIP 53594 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 53594 (Waterloo, WI) is $1,530 a month, up 15.0% from FY2026. That is 2% below the Madison, WI area-wide FMR of $1,565.
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 53594 sits in the Madison, WI area
Of the 52 ZIP codes HUD lists for the area, 53594 has the 23rd highest two-bedroom Small Area FMR. Madison, 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 $1,565 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,530 for this ZIP code instead.
ZIP code 53594 crosses more than one HUD area. HUD also lists it under Dodge County, WI (same figures) and Jefferson County, 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 | $1,150 | $1,035 – $1,265 | $1,196 | $980 |
| 1 bedroom | $1,340 | $1,206 – $1,474 | $1,375 | $1,160 |
| 2 bedrooms | $1,530 | $1,377 – $1,683 | $1,565 | $1,330 |
| 3 bedrooms | $2,020 | $1,818 – $2,222 | $2,047 | $1,750 |
| 4 bedrooms | $2,260 | $2,034 – $2,486 | $2,264 | $1,950 |
A household renting a two-bedroom home at the Small Area FMR of $1,530 needs about $61,200 a year to keep housing costs at 30% of income. The area median family income is $135,300 and the 80% low-income limit for four people is $106,800. ZIP code 53594 lies mainly in Jefferson County, Dodge County and Dane County. See the Madison, WI county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 53594?
HUD's FY2027 Small Area Fair Market Rents for 53594 are $1,150 (studio), $1,340 (1 BR), $1,530 (2 BR), $2,020 (3 BR) and $2,260 (4 BR) a month.
What is the Section 8 payment standard in 53594?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 53594 that range is $1,377 to $1,683 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 53594?
The FY2026 income limits of the Madison, WI area apply: median family income $135,300, low-income (80%) limit $106,800 for a family of four.