FY2027 Small Area FMR · Phelps, WI

ZIP 54554 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 54554 (Phelps, WI) is $1,010 a month, up 4.1% from FY2026. That is 1% below the Vilas County, WI area-wide FMR of $1,022.

2-bedroom SAFMR$1,010per month ▲ 4.1%

Area-wide 2 BR FMR$1,022Vilas County, WI

Rank in the area11thof 13 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$909

2 BR Small Area FMR$1,010

110% of SAFMR$1,111

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

Studio$730▼ 5.2%

1 BR$780■ 0.0%

2 BR$1,010▲ 4.1%

3 BR$1,210▲ 3.4%

4 BR$1,340▲ 3.9%

FY2027 FY2026

Where 54554 sits in the Vilas County, WI area

Of the 13 ZIP codes HUD lists for the area, 54554 has the 11th highest two-bedroom Small Area FMR. Vilas 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 $1,022 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,010 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	$730	$657 – $803	$738	$770
1 bedroom	$780	$702 – $858	$788	$780
2 bedrooms	$1,010	$909 – $1,111	$1,022	$970
3 bedrooms	$1,210	$1,089 – $1,331	$1,218	$1,170
4 bedrooms	$1,340	$1,206 – $1,474	$1,343	$1,290

A household renting a two-bedroom home at the Small Area FMR of $1,010 needs about $40,400 a year to keep housing costs at 30% of income. The area median family income is $88,400 and the 80% low-income limit for four people is $76,800. ZIP code 54554 lies mainly in Vilas County. See the Vilas County, WI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
54519	Conover	10.2 mi	$1,040
54521	Eagle River	14.1 mi	$1,090
49969	Watersmeet	15.7 mi	$1,130
49935	Iron River	16.5 mi	$1,180
54540	Land O Lakes	17.0 mi	$1,010
54562	Three Lakes	17.4 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 54554?

HUD's FY2027 Small Area Fair Market Rents for 54554 are $730 (studio), $780 (1 BR), $1,010 (2 BR), $1,210 (3 BR) and $1,340 (4 BR) a month.

What is the Section 8 payment standard in 54554?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 54554 that range is $909 to $1,111 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 54554?

The FY2026 income limits of the Vilas County, WI area apply: median family income $88,400, low-income (80%) limit $76,800 for a family of four.