FY2026 Fair Market Rents — Lake County
Studio
$704
1BR
$758
2BR
$994
3BR
$1,367
4BR
$1,660
Lake County, Michigan
FIPS 26085 · County-level FMR and income limit data
FMR Area: Lake County, MI
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $704 | $8,448 |
| 1-Bedroom | $758 | $9,096 |
| 2-Bedroom | $994 | $11,928 |
| 3-Bedroom | $1,367 | $16,404 |
| 4-Bedroom | $1,660 | $19,920 |
To afford the FY2026 2-bedroom FMR of $994/mo under the 30%-of-income rule, a household needs about
$39,760/yr ($3,313/mo). Area Median Income is $62,600.
At MI's state minimum wage of $12.48/hr, a worker would need to work 62 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $704 | $758 | $994 | $1,367 | $1,660 |
| FY2025 | $654 | $749 | $933 | $1,307 | $1,567 |
| FY2024 | $633 | $734 | $905 | $1,275 | $1,536 |
| FY2023 | $571 | $682 | $826 | $1,174 | $1,178 |
| FY2022 | $524 | $575 | $757 | $1,022 | $1,072 |
| FY2021 | $503 | $557 | $734 | $913 | $995 |
| FY2020 | $495 | $541 | $713 | $889 | $966 |
FY2026 Income Limits
Area Median Income: $62,600
| 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 |