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RentData.org Logo Lake County Fair Market Rent FY 2021 Lake County, MI Rental Data

Fair Market Rent Prices in Lake County, MI :
$503 $557 $734 $913 $995
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Affordable 40th Percentile Non-Metro

Fair Market Rent prices in Lake County are very low compared to the national average. This FMR area is less expensive than 81% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Lake County is $734 per month.

The previous year, rent for a two-bedroom home was $713 per month. This is a 2.95% increase year-over-year.

This FMR rate applies to Idlewild, MI, Chase, MI, Branch, MI, Luther, MI, Bitely, MI, Irons, MI, Tustin, MI, Leroy, MI, Baldwin, MI, Reed City, MI and other cities within the region. The Metro Code or CBSA code for this region is NCNTY26085N26085.

Additionally, This Fair Market Rent (FMR) area Lake County, MI spans one county or city in Michigan which is listed in the table below. Estimated population of Lake County, MI FMR area is 11,670 people based on latest Census data.

Compared to the rest of Michigan, the Lake County FMR area is less expensive than 100% of the state.

Michigan Rents Map

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Lake County. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Lake County

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 519
1-BR 1-Bedroom $ 575
2-BR 2-Bedroom $ 757
3-BR 3-Bedroom $ 942
4-BR 4-Bedroom $ 1027
Change Year:
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

There is just one county (listed below) within the Lake County, MI FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers two metro areas: Traverse City - Cadillac and Grand Rapids - Kalmzoo - B. Crk.

County / Region Est. Population
Lake County, MI 11,670
Zip Codes in Lake County, MI

There are 11 unique zip codes in this Fair Market Rent (FMR) area:

49304, 49309, 49402, 49601, 49623, 49642, 49644, 49655, 49656, 49677 and 49688

Lookup Fair Market Rent by Zip Code

What's Next?

Here are some additional resources you may also be interested in:

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