FY2026 Fair Market Rents — Lake County, MN
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$880
1BR
$973
2BR
$1,277
3BR
$1,531
4BR
$1,869
Hours/week at min wage
89 hrs
to afford the 2BR FMR @ $11.13/hr (MN)
YoY change (2BR)
+3.3%
+$41 vs FY2025 · 5-yr +74%
Voucher payment standard
$1,149–$1,405
PHAs set HCV payment at 90–110% of the 2BR FMR
Lake County, MN
Non-Metropolitan area · MN · View full history · Income limits · LIHTC rents
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $880 | $10,560 |
| 1-Bedroom | $973 | $11,676 |
| 2-Bedroom | $1,277 | $15,324 |
| 3-Bedroom | $1,531 | $18,372 |
| 4-Bedroom | $1,869 | $22,428 |
Recent 2-Bedroom FMR Trend
FY2020 $768 → FY2026 $1,277
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $880 | $973 | $1,277 | $1,531 | $1,869 |
| FY2025 | $848 | $942 | $1,236 | $1,489 | $2,076 |
| FY2024 | $774 | $860 | $1,130 | $1,502 | $1,918 |
| FY2023 | $716 | $825 | $997 | $1,316 | $1,639 |
| FY2022 | $611 | $680 | $826 | $1,116 | $1,120 |
| FY2021 | $484 | $592 | $734 | $992 | $995 |
| FY2020 | $506 | $589 | $768 | $1,078 | $1,082 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $99,900
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $21,000 | $24,000 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI (Very Low) | $35,000 | $40,000 | $45,000 | $49,950 | $53,950 | $57,950 |
| 80% AMI (Low) | $55,950 | $63,950 | $71,950 | $79,900 | $86,300 | $92,700 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$15,324/yr
FMR as % of Area Median Income
15.3% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$51,080/yr
$4,257/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 | $874 | $999 | $1,123 | $1,348 | $1,448 |
| 60% AMI Maximum | $1,048 | $1,198 | $1,348 | $1,618 | $1,738 |
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 | $880 | $973 | $1,277 | $1,531 | $1,623 |
| Low HOME Rent | $875 | $1,000 | $1,125 | $1,248 | $1,348 |
Compare Lake County, MN With Other MN Metros
vs. Duluth, MN-WI MSA
vs. Fargo, ND-MN MSA
vs. Fillmore County, MN HUD Metro FMR Area
vs. Grand Forks, ND-MN MSA
vs. La Crosse-Onalaska, WI-MN MSA