FY2026 Fair Market Rents — Lake of the Woods County
Studio
$699
1BR
$773
2BR
$1,014
3BR
$1,216
4BR
$1,474
Lake of the Woods County, Minnesota
FIPS 27077 · County-level FMR and income limit data
FMR Area: Lake of the Woods County, MN
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 |
To afford the FY2026 2-bedroom FMR of $1,014/mo under the 30%-of-income rule, a household needs about
$40,560/yr ($3,380/mo). Area Median Income is $99,100.
At MN's state minimum wage of $11.13/hr, a worker would need to work 71 hours/week to afford that rent.
Recent FMR Trend
| 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 |
FY2026 Income Limits
Area Median Income: $99,100
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $20,850 | $23,800 | $27,320 | $33,000 | $38,680 | $44,360 |
| 50% AMI | $34,700 | $39,650 | $44,600 | $49,550 | $53,550 | $57,500 |
| 80% AMI | $55,550 | $63,450 | $71,400 | $79,300 | $85,650 | $92,000 |