Minnesota · FIPS 27077 · HUD FY 2027
Lake of the Woods County, Minnesota Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Lake of the Woods County is $1,154 a month (rent plus utilities), 23% below the Minnesota average of $1,507 and 34% below the U.S. average of $1,761. That is up $140 (13.8%) from FY 2026. At 30% of income, a household needs about $46,160 a year to afford it.
- $1,1542-bedroom FMR+$140 (+13.8%) vs FY 2026
- $8821-bedroom FMRMinnesota: $1,231 · U.S.: $1,478
- $46,160Income for a 2-bedroom$22/hour full-time
- 28 of 872BR rank in Minnesota1 = highest rent
| Unit | Lake of the Woods County FY 2027 | FY 2026 | Change | Minnesota avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $804 | $699 | +$105 (+15.0%) | $1,102 | $1,379 | $32,160 |
| 1 bedroom | $882 | $773 | +$109 (+14.1%) | $1,231 | $1,478 | $35,280 |
| 2 bedrooms | $1,154 | $1,014 | +$140 (+13.8%) | $1,507 | $1,761 | $46,160 |
| 3 bedrooms | $1,375 | $1,216 | +$159 (+13.1%) | $1,980 | $2,266 | $55,000 |
| 4 bedrooms | $1,685 | $1,474 | +$211 (+14.3%) | $2,243 | $2,607 | $67,400 |
How Lake of the Woods County compares
- Lake of the Woods County is a non-metro county, so HUD sets one Fair Market Rent for the whole county.
- Across Minnesota, 2-bedroom FMRs run from $1,014 (Yellow Medicine County) to $1,734 (Anoka County).
- Studio to 4-bedroom: $804, $882, $1,154, $1,375, $1,685. 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 4 ZIP codes mostly in Lake of the Woods County (by land area), the 2-bedroom figure ranges from $1,050 to $1,170.
Small Area FMRs by ZIP code in Lake of the Woods County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 56623 | $810 | $890 | $1,160 | $1,390 | $1,700 | +$160 (+16.0%) | 1% above |
| 56673 | $810 | $990 | $1,170 | $1,470 | $1,730 | −$130 (−10.0%) | 1% above |
| 56686 | $800 | $880 | $1,150 | $1,370 | $1,680 | −$40 (−3.4%) | about the same as |
| 56711 | $740 | $920 | $1,050 | $1,350 | $1,570 | −$70 (−6.2%) | 9% below |
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.