FY2026 Fair Market Rents — Alger County
Studio
$759
1BR
$817
2BR
$1,072
3BR
$1,285
4BR
$1,419
Alger County, Michigan
FIPS 26003 · County-level FMR and income limit data
FMR Area: Alger County, MI
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $759 | $9,108 |
| 1-Bedroom | $817 | $9,804 |
| 2-Bedroom | $1,072 | $12,864 |
| 3-Bedroom | $1,285 | $15,420 |
| 4-Bedroom | $1,419 | $17,028 |
To afford the FY2026 2-bedroom FMR of $1,072/mo under the 30%-of-income rule, a household needs about
$42,880/yr ($3,573/mo). Area Median Income is $77,500.
At MI's state minimum wage of $12.48/hr, a worker would need to work 67 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $759 | $817 | $1,072 | $1,285 | $1,419 |
| FY2025 | $707 | $770 | $1,010 | $1,217 | $1,339 |
| FY2024 | $693 | $768 | $991 | $1,198 | $1,405 |
| FY2023 | $583 | $687 | $843 | $1,026 | $1,198 |
| FY2022 | $524 | $637 | $757 | $936 | $1,072 |
| FY2021 | $503 | $591 | $734 | $913 | $1,040 |
| FY2020 | $495 | $541 | $713 | $889 | $1,121 |
FY2026 Income Limits
Area Median Income: $77,500
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $17,600 | $21,640 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $29,300 | $33,450 | $37,650 | $41,800 | $45,150 | $48,500 |
| 80% AMI | $46,850 | $53,550 | $60,250 | $66,900 | $72,300 | $77,650 |