HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Lake County, Michigan (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Lake County is $994 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$994
FY 2026, utilities included
Payment standard range
$895 to $1,093
90% to 110% of FMR
Income to afford 2BR
$39,760
per year, at 30% of income
Rank in Michigan
51st of 83
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Lake moves to $1,069. That's up 8%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Lake actually rent for?
Search any address in Lake for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $704 | $634 to $774 | $28,160 | $13.54/hr | +7.6% |
| 1 bedroom | $758 | $682 to $834 | $30,320 | $14.58/hr | +1.2% |
| 2 bedroom | $994 | $895 to $1,093 | $39,760 | $19.12/hr | +6.5% |
| 3 bedroom | $1,367 | $1,230 to $1,504 | $54,680 | $26.29/hr | +4.6% |
| 4 bedroom | $1,660 | $1,494 to $1,826 | $66,400 | $31.92/hr | +5.9% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,909 | $1,718 to $2,100 |
| 6 bedroom Estimate | $2,158 | $1,942 to $2,374 |
| 7 bedroom Estimate | $2,407 | $2,166 to $2,648 |
| 8 bedroom Estimate | $2,656 | $2,390 to $2,922 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Lake, that runs from $704 for a studio up to $1,660 for four bedrooms, all five rates in the table above.
Because Lake sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Baldwin included.
Among Michigan's 83 counties, Lake ranks 51st for two-bedroom FMR. That's about 4% below the state median of $1,033 and about 2% below the national median county at $1,018. About 12,285 people live here, 72nd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $970 in 49642 (Idlewild) and $1,070 in 49656 (Luther), with the 6 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Lake somewhere between $895 and $1,093. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$994 a month is affordable, by HUD's 30% rule, on an income of roughly $39,760 a year. Put another way, $19 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($895) | HAP at 100% ($994) | HAP at 110% ($1,093) |
|---|---|---|---|---|
| $2,500 | $750 | $145 | $244 | $343 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 7% from FY 2025 ($933) to FY 2026 ($994). Since FY 2020 it's up 39% in total, about 5.7% a year. The Michigan median moved up 7% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $495 | $541 | $713 | $889 | $966 | — |
| FY 2021 | $503 | $557 | $734 | $913 | $995 | +2.9% |
| FY 2022 | $524 | $575 | $757 | $1,022 | $1,072 | +3.1% |
| FY 2023 | $571 | $682 | $826 | $1,174 | $1,178 | +9.1% |
| FY 2024 | $633 | $734 | $905 | $1,275 | $1,536 | +9.6% |
| FY 2025 | $654 | $749 | $933 | $1,307 | $1,567 | +3.1% |
| FY 2026 | $704 | $758 | $994 | $1,367 | $1,660 | +6.5% |
| FY 2027 | $763 | $817 | $1,069 | $1,418 | $1,775 | +7.5% |
Nearby counties
Questions people ask
$994 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $704 for a studio, $758 for one bedroom, $1,367 for three and $1,660 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Lake actually go for?
HUD's number is one input. Search any address in Lake for a rent estimate built from nearby comps. 3 free searches, no card.
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