FY2027 Small Area FMR · Madison, WI

ZIP 53704 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 53704 (Madison, WI) is $1,530 a month, down 5.0% from FY2026. That is 2% below the Madison, WI area-wide FMR of $1,565.

2-bedroom SAFMR$1,530per month ▼ 5.0%

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

Rank in the area23rdof 52 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,377

2 BR Small Area FMR$1,530

110% of SAFMR$1,683

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

Studio$1,150▼ 5.0%

1 BR$1,340▼ 5.0%

2 BR$1,530▼ 5.0%

3 BR$2,020▼ 5.2%

4 BR$2,260▼ 5.0%

FY2027 FY2026

Where 53704 sits in the Madison, WI area

Of the 52 ZIP codes HUD lists for the area, 53704 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.

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	$1,196	$1,210
1 bedroom	$1,340	$1,206 – $1,474	$1,375	$1,410
2 bedrooms	$1,530	$1,377 – $1,683	$1,565	$1,610
3 bedrooms	$2,020	$1,818 – $2,222	$2,047	$2,130
4 bedrooms	$2,260	$2,034 – $2,486	$2,264	$2,380

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 53704 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
53714	Madison	3.0 mi	$1,530
53703	Madison	4.2 mi	$1,870
53718	Madison	4.5 mi	$1,850
53598	Windsor	5.1 mi	$1,760
53716	Madison	5.2 mi	$1,530
53706	Madison	5.3 mi	$1,750

Questions

What is the Fair Market Rent for ZIP code 53704?

HUD's FY2027 Small Area Fair Market Rents for 53704 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 53704?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 53704 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 53704?

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.