What is the Fair Market Rent for a 2-bedroom in Milwaukee-Waukesha-West Allis, WI MSA?

The HUD Fair Market Rent for a 2-bedroom unit in Milwaukee-Waukesha-West Allis, WI MSA is $1,338 per month for fiscal year 2026. The studio FMR is $1,027, 1-bedroom is $1,119, 3-bedroom is $1,648, and 4-bedroom is $1,784.

What income do you need to afford the FMR in Milwaukee-Waukesha-West Allis, WI MSA?

Using the standard 30%-of-income affordability rule, a household would need to earn about $53,520 per year ($4,460 per month) to afford the FY2026 2-bedroom Fair Market Rent of $1,338 in Milwaukee-Waukesha-West Allis, WI MSA.

FY2026 Fair Market Rents — Milwaukee-Waukesha-West Allis, WI MSA

The HUD-published Fair Market Rents for FY2026 in this area are:

Studio

$1,027

1BR

$1,119

2BR

$1,338

3BR

$1,648

4BR

$1,784

Hours/week at min wage

142 hrs

to afford the 2BR FMR @ $7.25/hr (federal)

National rank

#268

of 661 U.S. metros (top 41% most expensive)

YoY change (2BR)

+6.4%

+$81 vs FY2025 · 5-yr +37.5%

Voucher payment standard

$1,204–$1,472

PHAs set HCV payment at 90–110% of the 2BR FMR

Milwaukee-Waukesha-West Allis, WI MSA

Metropolitan area · WI · View full history · Income limits · LIHTC rents

FY2026 Fair Market Rents

Bedroom Size	Monthly FMR	Annual Equivalent
Efficiency (Studio)	$1,027	$12,324
1-Bedroom	$1,119	$13,428
2-Bedroom	$1,338	$16,056
3-Bedroom	$1,648	$19,776
4-Bedroom	$1,784	$21,408

Recent 2-Bedroom FMR Trend

FY2020 $922 → FY2026 $1,338

Fiscal Year	Studio	1BR	2BR	3BR	4BR
FY2026	$1,027	$1,119	$1,338	$1,648	$1,784
FY2025	$939	$1,056	$1,257	$1,558	$1,701
FY2024	$845	$979	$1,170	$1,460	$1,592
FY2023	$766	$909	$1,092	$1,374	$1,499
FY2022	$687	$827	$999	$1,269	$1,384
FY2021	$663	$803	$973	$1,242	$1,362
FY2020	$628	$761	$922	$1,177	$1,303

View full FMR history back to FY2000 →

FY2026 Income Limits

Area Median Income (AMI): $108,400

AMI Level	1p	2p	3p	4p	5p	6p
30% AMI (Extremely Low)	$22,750	$26,000	$29,250	$33,000	$38,680	$44,360
50% AMI (Very Low)	$37,950	$43,400	$48,800	$54,200	$58,550	$62,900
80% AMI (Low)	$60,700	$69,400	$78,050	$86,700	$93,650	$100,600

Full income limits table (all 8 household sizes) →

Affordability Snapshot

2BR Annual FMR

$16,056/yr

FMR as % of Area Median Income

14.8% of AMI

Under 30% — affordable at median income

Income Needed (30% rule, 2BR)

$53,520/yr

$4,460/mo gross income

FY2026 LIHTC Maximum Rents

Maximum gross rents for Low-Income Housing Tax Credit units, by income band. Full LIHTC details →

AMI Band	Studio	1BR	2BR	3BR	4BR
50% AMI Maximum	$948	$1,084	$1,219	$1,463	$1,571
60% AMI Maximum	$1,138	$1,300	$1,463	$1,756	$1,886

FY2026 HOME Program Rent Limits

Maximum rents for HOME Investment Partnerships–funded units. High HOME rents apply to most assisted units; Low HOME rents apply to the lowest-income set-aside units. Full HOME rent details →

Limit Type	Studio	1BR	2BR	3BR	4BR
High HOME Rent	$1,027	$1,119	$1,338	$1,648	$1,761
Low HOME Rent	$948	$1,085	$1,220	$1,355	$1,463

Compare Milwaukee-Waukesha-West Allis, WI MSA With Other WI Metros

vs. Appleton, WI MSA vs. Columbia County, WI HUD Metro FMR Area vs. Eau Claire, WI MSA vs. Fond du Lac, WI MSA vs. Green Bay, WI HUD Metro FMR Area

Counties in This FMR Area

Milwaukee County Ozaukee County Washington County Waukesha County