County FMR · HUD FY2026
Lake County Fair Market Rent
HUD's FY2026 Fair Market Rent for Lake County, MN - 1% above the US average.
- $973
- 1-bedroom FMR
- $1,277
- 2-bedroom FMR
- +3.3%
- YoY change
- +1%
- vs US avg
The verdict
Lake is the 14th most expensive of 87 counties in Minnesota by 2-bedroom FMR; nationally it ranks #786 most expensive of 3,145 HUD counties.
- #786
- most expensive of 3,145 US counties (2BR)
- #14
- most expensive of 87 in Minnesota (2BR)
- +8%
- vs the state average
- $38,920
- income to afford it (30% rule)
Software Developers spend the smallest share of income on rent here (9.4%), while Fast Food and Counter Workers spend the most (36.5%).
FY 2026 HUD Fair Market Rent for Lake County, MN. Verify with HUD →
HUD sets the FY 2026 1-bedroom Fair Market Rent for Lake County, Minnesota at $973 per month - the federal rental-assistance benchmark for this county. A 2-bedroom costs $1,277/mo and a studio is $880/mo. This is 1% higher than the national average of $959 and 8% above the Minnesota average of $899.
Rent increased3.3% from FY 2025 ($942), outpacing inflation. Under the 30% rule, affordability starts near $38,920/year for a 1-bedroom.
Observed renter burden: 37.4% of the 805 renter households counted by ACS paid at least 30% of income in gross rent. This ACS 2023 household measure is distinct from HUD's FY2026 Fair Market Rent benchmark above.
FY 2026 HUD Fair Market Rents in Minnesota. Population: 10,915. Population has held roughly steady over the past five years (+3.2%, Census ACS). That's in line with Minnesota's statewide growth of +3.4% over the same period.
FMR filing desk
Area LAKE·COUNTY·MN·MN
Lake County, MN: $973/mo 1BR · #786 of 3145 counties (2BR) · FY2026
- FMR-AREA MN
- 1BR-FMR $973
- 2BR-FMR $1,277
- RANK-MID #786
- YOY-UP +3.3%
- VSUS-NEAR +1%
- VS-ST-HIGH +8% MN
- INC-ROOM 15%
- POP-SMALL 11K
- PHOTO-NEAR Hennepin County
- VOUCH-90-110 $876–$1,070
- FY-2026 FY2026
Photo-finish peer: Hennepin ($432 1BR gap)
Read with: How Fair Market Rent works
Fair Market Rents (2026)
Year-over-Year Comparison
| Bedrooms | FY 2025 | FY 2026 | Change |
|---|---|---|---|
| Studio | $848 | $880 | +$32 (+3.8%) |
| 1 Bedroom | $942 | $973 | +$31 (+3.3%) |
| 2 Bedroom | $1,236 | $1,277 | +$41 (+3.3%) |
| 3 Bedroom | $1,489 | $1,531 | +$42 (+2.8%) |
| 4 Bedroom | $2,076 | $1,869 | $-207 (-10.0%) |
Rent Burden Analysis
How much of household income goes to rent in Lake County. The 30% threshold indicates cost burden.
How we calculate this
Rent burden = (FMR × 12) ÷ county median household income. Required income = (FMR × 12) ÷ 0.3, the federal 30%-of-gross-income rule HUD uses to define cost burden. Median household income is from the U.S. Census Bureau's American Community Survey; FMR is from HUD's FY2026 release. See methodology.
Where Lake sits among every US county
2-bedroom Fair Market Rent vs. all 3,145 HUD counties
$1,277 Top 25% higher than 75% of 3,145 counties
Each bar is a $0.2K-wide band; taller bars hold more counties. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Department of Housing and Urban Development, Fair Market Rents · FY2026
How Lake compares on 1-bedroom rent
1-bedroom FMR vs other Minnesota counties
- Hennepin
Hennepin County
$1,405 1BR FMR / mo
- Ramsey
Ramsey County
$1,405 1BR FMR / mo
- Dakota
Dakota County
$1,405 1BR FMR / mo
- Anoka
Anoka County
$1,405 1BR FMR / mo
- Washington
Washington County
$1,405 1BR FMR / mo
- St. Louis
St. Louis County
$978 1BR FMR / mo
- Lake
Lake County
$973 1BR FMR / mo
What this shows Lake is highlighted. Nearby Minnesota counties by 1-bedroom FMR, highest to lowest: Hennepin County ($1,405), Ramsey County ($1,405), Dakota County ($1,405), Anoka County ($1,405), Washington County ($1,405), St. Louis County ($978), Lake County (this county) ($973).
Can Common Jobs Afford Rent Here?
How a 1-bedroom at $973/mo compares to Minnesota salaries for popular occupations (BLS wage data, 30%-of-income rule).
| Occupation | MN Salary | Rent Burden | Verdict |
|---|---|---|---|
| Software Developers | $124,540 | 9.4% | Affordable |
| Registered Nurses | $100,870 | 11.6% | Affordable |
| General & Operations Managers | $96,130 | 12.1% | Affordable |
| Police & Sheriff's Patrol Officers | $83,310 | 14% | Affordable |
| Electricians | $81,430 | 14.3% | Affordable |
| Accountants & Auditors | $81,100 | 14.4% | Affordable |
| Paralegals & Legal Assistants | $67,320 | 17.3% | Affordable |
| Elementary School Teachers | $63,120 | 18.5% | Affordable |
| Heavy & Tractor-Trailer Truck Drivers | $61,090 | 19.1% | Affordable |
| Pharmacy Technicians | $48,560 | 24% | Affordable |
| Customer Service Representatives | $47,470 | 24.6% | Affordable |
| Janitors & Cleaners | $38,320 | 30.5% | Stretched |
| Teaching Assistants | $38,160 | 30.6% | Stretched |
| Retail Salespersons | $35,310 | 33.1% | Stretched |
| Fast Food & Counter Workers | $31,950 | 36.5% | Stretched |
Rent Trends (2020–2026)
7-year Fair Market Rent history for Lake County. Shows how HUD rental rates have changed over time.
Over the 6-year span HUD has tracked for Lake (FY 2020-2026), the 1-bedroom Fair Market Rent has risen 65.2% overall, from $589 to $973. Most of that movement was gradual except for a single sharp jump of +21.3% in FY 2023, well above this county's typical year-to-year change.
| Year | Studio | 1 BR | 2 BR |
|---|---|---|---|
| FY 2026 ↑3.3% | $880 | $973 | $1,277 |
| FY 2025 ↑9.5% | $848 | $942 | $1,236 |
| FY 2024 ↑4.2% | $774 | $860 | $1,130 |
| FY 2023 ↑21.3% | $716 | $825 | $997 |
| FY 2022 ↑14.9% | $611 | $680 | $826 |
| FY 2021 ↑0.5% | $484 | $592 | $734 |
| FY 2020 | $506 | $589 | $768 |
Where Lake County Ranks in Minnesota
Lake County is not part of any federally-designated metropolitan or micropolitan statistical area -- an independent rental market not administratively tied to a larger urban core. By 2-bedroom FMR, it ranks #74 of 87 counties in Minnesota. Nearest by rank: Houston County ($1,166), Blue Earth County ($1,171), Nicollet County ($1,171), Rice County ($1,187), Benton County ($1,206), Stearns County ($1,206), Carlton County ($1,232), St. Louis County ($1,232), Lake County (this county) ($1,277), Dodge County ($1,407), Olmsted County ($1,407), Anoka County ($1,709), Carver County ($1,709), Chisago County ($1,709), Dakota County ($1,709), Hennepin County ($1,709), Isanti County ($1,709).
Nationwide peers by 2BR FMR & rent burden
Two PlainRent-derived comparison paths for Lake County, both outside Minnesota so the link neighborhoods are not the same-state geography lattice above. Axes stay disjoint: burden peers exclude the FMR peer set.
Similar 2-bedroom FMR
Nearest HUD 2BR Fair Market Rents outside MN (FY2026).
Similar rent burden
Nearest 2BR FMR as a share of median household income (outside MN).
Nearby Counties in Minnesota
Largest counties by population in Minnesota
Showing the 8 largest of 86 other counties in Minnesota.
Frequently Asked Questions
What is the average rent in Lake County? ▼
How does Lake County rent compare to the national average? ▼
Where does Lake County rank nationally for Fair Market Rent? ▼
What income do I need to afford rent in Lake County? ▼
Is rent going up or down in Lake County? ▼
Which jobs can afford rent in Lake County? ▼
How much has rent changed in Lake County over time? ▼
How does Fair Market Rent affect Section 8 vouchers in Lake County? ▼
What does Fair Market Rent mean for Lake County? ▼
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the U.S. Census Bureau and HUD Fair Market Rents. Consult a qualified professional before making decisions based on this data.
Every figure on PlainRent is rendered directly from HUD's published Fair Market Rent records, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of FY 2026.