FY2026 Fair Market Rents — Lake County
Studio
$880
1BR
$973
2BR
$1,277
3BR
$1,531
4BR
$1,869
Lake County, Minnesota
FIPS 27075 · County-level FMR and income limit data
FMR Area: Lake County, MN
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 |
To afford the FY2026 2-bedroom FMR of $1,277/mo under the 30%-of-income rule, a household needs about
$51,080/yr ($4,257/mo). Area Median Income is $99,900.
At MN's state minimum wage of $11.13/hr, a worker would need to work 89 hours/week to afford that rent.
Recent FMR Trend
| 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 |
FY2026 Income Limits
Area Median Income: $99,900
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $21,000 | $24,000 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $35,000 | $40,000 | $45,000 | $49,950 | $53,950 | $57,950 |
| 80% AMI | $55,950 | $63,950 | $71,950 | $79,900 | $86,300 | $92,700 |