HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Mille Lacs County, Minnesota (FY 2027)
$1,124 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Mille Lacs County, and it's the baseline every voucher in Mille Lacs is measured against.
Two-bedroom FMR
$1,124
+0.1% from FY 2026
Payment standard
$1,012–$1,236
90% to 110% of the FMR, two-bedroom
Income to afford
$44,960
a year, with rent at 30% of income
Rank in Minnesota
30th of 87
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $820 | $738–$902 | $32,800 | $15.77/hr | -3.5% |
| 1 bedroom | $870 | $783–$957 | $34,800 | $16.73/hr | +1.6% |
| 2 bedroom | $1,124 | $1,012–$1,236 | $44,960 | $21.62/hr | +0.1% |
| 3 bedroom | $1,351 | $1,216–$1,486 | $54,040 | $25.98/hr | +0.4% |
| 4 bedroom | $1,879 | $1,691–$2,067 | $75,160 | $36.13/hr | -0.3% |
Five to eight 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 | $2,161 | $1,945–$2,377 |
| 6 bedroom Estimate | $2,443 | $2,199–$2,687 |
| 7 bedroom Estimate | $2,725 | $2,453–$2,998 |
| 8 bedroom Estimate | $3,006 | $2,705–$3,307 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Mille Lacs actually rent for?
Search any address in Mille Lacs for a rent estimate built from nearby comps, with the HUD figure right next to it.
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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 Mille Lacs somewhere between $1,012 and $1,236. 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.
$1,124 a month is affordable, by HUD's 30% rule, on an income of roughly $44,960 a year. Put another way, $22 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,012 | Voucher pays at 100%$1,124 | Voucher pays at 110%$1,236 |
|---|---|---|---|---|
| $2,500 | $750 | $262 | $374 | $486 |
| $4,000 | $1,200 | $0 | $0 | $36 |
Rate history
The two-bedroom rate went up 0% from FY 2026 ($1,123) to FY 2027 ($1,124). Since FY 2020 it's up 25% in total, about 3.2% a year. The Minnesota median moved up 5% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $587 | $684 | $901 | $1,297 | $1,412 | — |
| FY 2021 | $618 | $710 | $936 | $1,340 | $1,515 | +3.9% |
| FY 2022 | $639 | $731 | $962 | $1,367 | $1,647 | +2.8% |
| FY 2023 | $676 | $758 | $998 | $1,408 | $1,700 | +3.7% |
| FY 2024 | $855 | $861 | $1,131 | $1,440 | $1,919 | +13.3% |
| FY 2025 | $830 | $835 | $1,096 | $1,334 | $1,840 | -3.1% |
| FY 2026 | $850 | $856 | $1,123 | $1,346 | $1,884 | +2.5% |
| FY 2027In effect | $820 | $870 | $1,124 | $1,351 | $1,879 | +0.1% |
About this rate
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 2027 that's October 1, 2026 through September 30, 2027. In Mille Lacs, that runs from $820 for a studio up to $1,879 for four bedrooms, all five rates in the table above.
Mille Lacs is its own HUD metro area (Mille Lacs County, MN), so the rate here is set from rents inside the county rather than a wider region.
Among Minnesota's 87 counties, Mille Lacs ranks 30th for two-bedroom FMR. That's about 7% above the state median of $1,048 and about 6% above the national median county at $1,063. About 27,125 people live here, 39th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,020 in 56342 (Isle) and $1,540 in 55371 (Princeton), with the 8 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.
Nearby counties
Two-bedroom FMR, with how each compares to Mille Lacs.
Kanabec County
11 mi · 16,390 people
$1,014
-10%
Isanti County
23 mi · 42,596 people
$1,734
+54%
Benton County
24 mi · 41,593 people
$1,233
+10%
Sherburne County
31 mi · 100,560 people
$1,734
+54%
Morrison County
36 mi · 34,249 people
$1,014
-10%
Pine County
39 mi · 29,640 people
$1,096
-2%
Chisago County
44 mi · 57,991 people
$1,734
+54%
Stearns County
46 mi · 160,865 people
$1,233
+10%
Questions people ask
$1,124 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $820 for a studio, $870 for one bedroom, $1,351 for three and $1,879 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
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
The income a household needs for a given rent
What does a rental in Mille Lacs actually go for?
HUD's number is one input. Search any address in Mille Lacs for a rent estimate built from nearby comps. Free to start, no card.
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