FY2027 Small Area FMR · Manitowish Waters, WI
ZIP 54545 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 54545 (Manitowish Waters, WI) is $1,310 a month, up 2.3% from FY2026. That is 29% above the Iron County, WI area-wide FMR of $1,014.
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 54545 sits in the Iron County, WI area
Of the 13 ZIP codes HUD lists for the area, 54545 has the 1st highest two-bedroom Small Area FMR. Iron County, 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 $1,014 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,310 for this ZIP code instead.
ZIP code 54545 crosses more than one HUD area. HUD also lists it under Vilas 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 | $950 | $855 – $1,045 | $732 | $1,020 |
| 1 bedroom | $1,010 | $909 – $1,111 | $830 | $1,030 |
| 2 bedrooms | $1,310 | $1,179 – $1,441 | $1,014 | $1,280 |
| 3 bedrooms | $1,560 | $1,404 – $1,716 | $1,262 | $1,540 |
| 4 bedrooms | $1,720 | $1,548 – $1,892 | $1,604 | $1,700 |
A household renting a two-bedroom home at the Small Area FMR of $1,310 needs about $52,400 a year to keep housing costs at 30% of income. The area median family income is $82,300 and the 80% low-income limit for four people is $76,800. ZIP code 54545 lies mainly in Vilas County and Iron County. See the Iron County, 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 54545?
HUD's FY2027 Small Area Fair Market Rents for 54545 are $950 (studio), $1,010 (1 BR), $1,310 (2 BR), $1,560 (3 BR) and $1,720 (4 BR) a month.
What is the Section 8 payment standard in 54545?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 54545 that range is $1,179 to $1,441 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 54545?
The FY2026 income limits of the Iron County, WI area apply: median family income $82,300, low-income (80%) limit $76,800 for a family of four.