FY2027 Small Area FMR · Waunakee, WI

ZIP 53597 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 53597 (Waunakee, WI) is $1,560 a month, down 6.6% from FY2026. That is 0% equal to the Madison, WI area-wide FMR of $1,565.

2-bedroom SAFMR$1,560per month ▼ 6.6%

Area-wide 2 BR FMR$1,565Madison, WI

Rank in the area22ndof 52 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,404

2 BR Small Area FMR$1,560

110% of SAFMR$1,716

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

Studio$1,190▼ 4.8%

1 BR$1,370▼ 6.2%

2 BR$1,560▼ 6.6%

3 BR$2,040▼ 7.3%

4 BR$2,260▼ 8.5%

FY2027 FY2026

Where 53597 sits in the Madison, WI area

Of the 52 ZIP codes HUD lists for the area, 53597 has the 22nd 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 $1,560 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	$1,190	$1,071 – $1,309	$1,196	$1,250
1 bedroom	$1,370	$1,233 – $1,507	$1,375	$1,460
2 bedrooms	$1,560	$1,404 – $1,716	$1,565	$1,670
3 bedrooms	$2,040	$1,836 – $2,244	$2,047	$2,200
4 bedrooms	$2,260	$2,034 – $2,486	$2,264	$2,470

A household renting a two-bedroom home at the Small Area FMR of $1,560 needs about $62,400 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 53597 lies mainly in Dane County. See the Madison, WI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
53529	Dane	5.0 mi	$1,530
53598	Windsor	6.3 mi	$1,760
53562	Middleton	6.4 mi	$1,630
53704	Madison	6.4 mi	$1,530
53792	Madison	7.4 mi	$1,570
53705	Madison	7.6 mi	$1,590

Questions

What is the Fair Market Rent for ZIP code 53597?

HUD's FY2027 Small Area Fair Market Rents for 53597 are $1,190 (studio), $1,370 (1 BR), $1,560 (2 BR), $2,040 (3 BR) and $2,260 (4 BR) a month.

What is the Section 8 payment standard in 53597?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 53597 that range is $1,404 to $1,716 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 53597?

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.