FY2026 Fair Market Rents — Lake of the Woods County, MN
The HUD-published Fair Market Rents for FY2026 in this area are:
Studio
$699
1BR
$773
2BR
$1,014
3BR
$1,216
4BR
$1,474
Hours/week at min wage
71 hrs
to afford the 2BR FMR @ $11.13/hr (MN)
YoY change (2BR)
+8.7%
+$81 vs FY2025 · 5-yr +34.7%
Voucher payment standard
$913–$1,115
PHAs set HCV payment at 90–110% of the 2BR FMR
Lake of the Woods 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) | $699 | $8,388 |
| 1-Bedroom | $773 | $9,276 |
| 2-Bedroom | $1,014 | $12,168 |
| 3-Bedroom | $1,216 | $14,592 |
| 4-Bedroom | $1,474 | $17,688 |
Recent 2-Bedroom FMR Trend
FY2020 $778 → FY2026 $1,014
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $699 | $773 | $1,014 | $1,216 | $1,474 |
| FY2025 | $640 | $711 | $933 | $1,124 | $1,347 |
| FY2024 | $660 | $741 | $974 | $1,178 | $1,408 |
| FY2023 | $605 | $689 | $905 | $1,101 | $1,317 |
| FY2022 | $549 | $630 | $826 | $1,021 | $1,201 |
| FY2021 | $497 | $571 | $753 | $937 | $1,089 |
| FY2020 | $513 | $591 | $778 | $970 | $1,096 |
View full FMR history back to FY2000 →
FY2026 Income Limits
Area Median Income (AMI): $99,100
| AMI Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI (Extremely Low) | $20,850 | $23,800 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI (Very Low) | $34,700 | $39,650 | $44,600 | $49,550 | $53,550 | $57,500 |
| 80% AMI (Low) | $55,550 | $63,450 | $71,400 | $79,300 | $85,650 | $92,000 |
Full income limits table (all 8 household sizes) →
Affordability Snapshot
2BR Annual FMR
$12,168/yr
FMR as % of Area Median Income
12.3% of AMI
Under 30% — affordable at median income
Income Needed (30% rule, 2BR)
$40,560/yr
$3,380/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 | $867 | $991 | $1,114 | $1,337 | $1,436 |
| 60% AMI Maximum | $1,040 | $1,189 | $1,337 | $1,605 | $1,724 |
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 | $699 | $773 | $1,014 | $1,216 | $1,474 |
| Low HOME Rent | $867 | $991 | $1,115 | $1,238 | $1,338 |
Compare Lake of the Woods 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