FY2027 Small Area FMR · Caroline, WI

ZIP 54928 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 54928 (Caroline, WI) is $1,070 a month, up 4.9% from FY2026. That is 6% above the Shawano County, WI area-wide FMR of $1,014.

2-bedroom SAFMR$1,070per month ▲ 4.9%

Area-wide 2 BR FMR$1,014Shawano County, WI

Rank in the area13thof 26 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$963

2 BR Small Area FMR$1,070

110% of SAFMR$1,177

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

Studio$820▲ 7.9%

1 BR$880▲ 4.8%

2 BR$1,070▲ 4.9%

3 BR$1,410▲ 6.0%

4 BR$1,410▲ 4.4%

FY2027 FY2026

Where 54928 sits in the Shawano County, WI area

Of the 26 ZIP codes HUD lists for the area, 54928 has the 13th highest two-bedroom Small Area FMR. Shawano 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 $1,070 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	$820	$738 – $902	$745	$760
1 bedroom	$880	$792 – $968	$843	$840
2 bedrooms	$1,070	$963 – $1,177	$1,014	$1,020
3 bedrooms	$1,410	$1,269 – $1,551	$1,328	$1,330
4 bedrooms	$1,410	$1,269 – $1,551	$1,333	$1,350

A household renting a two-bedroom home at the Small Area FMR of $1,070 needs about $42,800 a year to keep housing costs at 30% of income. The area median family income is $84,400 and the 80% low-income limit for four people is $76,800. ZIP code 54928 lies mainly in Shawano County. See the Shawano County, WI county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
54948	Leopolis	2.0 mi	$1,080
54978	Tilleda	3.1 mi	$1,020
54950	Marion	6.9 mi	$1,010
54486	Tigerton	8.5 mi	$1,170
54128	Gresham	9.3 mi	$1,070
54416	Bowler	9.7 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 54928?

HUD's FY2027 Small Area Fair Market Rents for 54928 are $820 (studio), $880 (1 BR), $1,070 (2 BR), $1,410 (3 BR) and $1,410 (4 BR) a month.

What is the Section 8 payment standard in 54928?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 54928 that range is $963 to $1,177 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 54928?

The FY2026 income limits of the Shawano County, WI area apply: median family income $84,400, low-income (80%) limit $76,800 for a family of four.