Minnesota · FIPS 27075 · HUD FY 2027
Lake County, Minnesota Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Lake County is $1,358 a month (rent plus utilities), 10% below the Minnesota average of $1,507 and 23% below the U.S. average of $1,761. That is up $81 (6.3%) from FY 2026. At 30% of income, a household needs about $54,320 a year to afford it.
- $1,3582-bedroom FMR+$81 (+6.3%) vs FY 2026
- $1,0381-bedroom FMRMinnesota: $1,231 · U.S.: $1,478
- $54,320Income for a 2-bedroom$26/hour full-time
- 14 of 872BR rank in Minnesota1 = highest rent
| Unit | Lake County FY 2027 | FY 2026 | Change | Minnesota avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $946 | $880 | +$66 (+7.5%) | $1,102 | $1,379 | $37,840 |
| 1 bedroom | $1,038 | $973 | +$65 (+6.7%) | $1,231 | $1,478 | $41,520 |
| 2 bedrooms | $1,358 | $1,277 | +$81 (+6.3%) | $1,507 | $1,761 | $54,320 |
| 3 bedrooms | $1,618 | $1,531 | +$87 (+5.7%) | $1,980 | $2,266 | $64,720 |
| 4 bedrooms | $1,983 | $1,869 | +$114 (+6.1%) | $2,243 | $2,607 | $79,320 |
How Lake County compares
- Lake County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Minnesota, 2-bedroom FMRs run from $1,014 (Yellow Medicine County) to $1,734 (Anoka County).
- Studio to 4-bedroom: $946, $1,038, $1,358, $1,618, $1,983. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 8 ZIP codes mostly in Lake County (by land area), the 2-bedroom figure ranges from $1,150 to $1,480.
Small Area FMRs by ZIP code in Lake County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 55601 | $940 | $1,030 | $1,350 | $1,610 | $1,970 | +$60 (+4.7%) | 1% below |
| 55603 | $800 | $880 | $1,150 | $1,380 | $1,690 | +$30 (+2.7%) | 15% below |
| 55607 | $800 | $880 | $1,150 | $1,430 | $1,740 | +$30 (+2.7%) | 15% below |
| 55609 | $1,030 | $1,150 | $1,480 | $1,880 | $2,280 | +$10 (+0.7%) | 9% above |
| 55614 | $920 | $1,010 | $1,320 | $1,570 | $1,930 | +$60 (+4.8%) | 3% below |
| 55616 | $990 | $1,090 | $1,420 | $1,710 | $2,090 | +$40 (+2.9%) | 5% above |
| 55731 | $800 | $890 | $1,150 | $1,530 | $1,870 | +$30 (+2.7%) | 15% below |
| 55796 | $800 | $890 | $1,150 | $1,530 | $1,870 | +$30 (+2.7%) | 15% below |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.