Michigan · FIPS 26085 · HUD FY 2027
Lake County, Michigan Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Lake County is $1,069 a month (rent plus utilities), 21% below the Michigan average of $1,361 and 39% below the U.S. average of $1,761. That is up $75 (7.5%) from FY 2026. At 30% of income, a household needs about $42,760 a year to afford it.
- $1,0692-bedroom FMR+$75 (+7.5%) vs FY 2026
- $8171-bedroom FMRMichigan: $1,101 · U.S.: $1,478
- $42,760Income for a 2-bedroom$21/hour full-time
- 43 of 832BR rank in Michigan1 = highest rent
| Unit | Lake County FY 2027 | FY 2026 | Change | Michigan avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $763 | $704 | +$59 (+8.4%) | $1,003 | $1,379 | $30,520 |
| 1 bedroom | $817 | $758 | +$59 (+7.8%) | $1,101 | $1,478 | $32,680 |
| 2 bedrooms | $1,069 | $994 | +$75 (+7.5%) | $1,361 | $1,761 | $42,760 |
| 3 bedrooms | $1,418 | $1,367 | +$51 (+3.7%) | $1,697 | $2,266 | $56,720 |
| 4 bedrooms | $1,775 | $1,660 | +$115 (+6.9%) | $1,873 | $2,607 | $71,000 |
How Lake County compares
- Lake County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Michigan, 2-bedroom FMRs run from $1,014 (Tuscola County) to $1,804 (Washtenaw County).
- Studio to 4-bedroom: $763, $817, $1,069, $1,418, $1,775. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 6 ZIP codes mostly in Lake County (by land area), the 2-bedroom figure ranges from $1,010 to $1,100.
Small Area FMRs by ZIP code in Lake County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 49304 | $770 | $830 | $1,080 | $1,430 | $1,790 | +$90 (+9.1%) | 1% above |
| 49402 | $760 | $830 | $1,060 | $1,390 | $1,530 | +$40 (+3.9%) | 1% below |
| 49623 | $720 | $780 | $1,010 | $1,360 | $1,690 | +$20 (+2.0%) | 6% below |
| 49642 | $720 | $780 | $1,010 | $1,360 | $1,690 | +$40 (+4.1%) | 6% below |
| 49644 | $760 | $810 | $1,060 | $1,410 | $1,750 | +$90 (+9.3%) | 1% below |
| 49656 | $780 | $840 | $1,100 | $1,460 | $1,830 | +$30 (+2.8%) | 3% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.