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RentData.org Logo Lake County Fair Market Rent FY 2023 Lake County, MN HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Lake County, MN :
$716 $825 $997 $1,316 $1,639
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Lake County are high compared to the national average. This FMR area is more expensive than 80% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Lake County is $997 per month.

The previous year, rent for a two-bedroom home was $826 per month. This is a 20.7% increase year-over-year.

This FMR rate applies to Beaver Bay, MN, Brimson, MN, Isabella, MN, Knife River, MN, Finland, MN, Silver Bay, MN, Ely, MN, Two Harbors, MN and other cities within the region. The Metro Code or CBSA code for this region is METRO20260M27075.

Additionally, This Fair Market Rent (FMR) area Lake County, MN HUD Metro FMR Area spans one county or city in Minnesota which is listed in the table below. Estimated population of Lake County, MN HUD Metro FMR Area FMR area is 10,571 people based on latest Census data.

Compared to the rest of Minnesota, the Lake County FMR area is more expensive than 90% of the state.

Minnesota 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 $ 758
1-BR 1-Bedroom $ 874
2-BR 2-Bedroom $ 1056
3-BR 3-Bedroom $ 1394
4-BR 4-Bedroom $ 1736
Change Year:
2022 2023 2024 2025

There is just one county (listed below) within the Lake County, MN HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Duluth - Superior.

County / Region Est. Population
Lake County, MN Metro 10,571
Zip Codes in Lake County, MN HUD Metro FMR Area

There are 8 unique zip codes in this Fair Market Rent (FMR) area:

55601, 55602, 55603, 55607, 55609, 55614, 55616 and 55731

Lookup Fair Market Rent by Zip Code

What's Next?

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