Lake County, CO: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,4852-bedroom FMR, FY2027

$1,1431-bedroom FMR, FY2027

$91,90080% income limit, family of 4 (FY2026)

$124,600Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Lake County is $1,485 a month, up 10.6% from $1,343 in FY2026. Lake County belongs to the Lake County, CO FMR area (non-metro county), so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Lake County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$1,103	$1,017	+8.5%	$993 – $1,213
1 bedroom	$1,143	$1,024	+11.6%	$1,029 – $1,257
2 bedrooms	$1,485	$1,343	+10.6%	$1,337 – $1,633
3 bedrooms	$1,913	$1,714	+11.6%	$1,722 – $2,104
4 bedrooms	$2,306	$2,106	+9.5%	$2,076 – $2,536

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Lake County that is typically $1,337 to $1,633 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$61,593median income of renter households

$1,397Median gross rent, all units

27%Rent-to-income ratio (median rent ÷ median renter income)

62%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $61,593 can afford about $1,540 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,485 is $55 (3.6%) less than that. To rent a two-bedroom at the FMR, a household needs $59,400 a year under the 30% rule, or $53,460 under the common landlord rule that income must be three times the rent.

Lake County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,397 ±$315
Median income of renter households	$61,593 ±$13,504
Renters paying 30% or more of income (cost-burdened)	61.8% ±18.6
Renters paying 50% or more (severely cost-burdened)	29.6% ±14.6
Renter households (where the share can be computed)	692

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$982	$1,397	+42.3%
Median renter household income	$30,833	$61,593	+99.8%
Renters paying 30%+ of income	65.6%	61.8%	−3.8 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

HUD income limits for Lake County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $124,600 (FY2025: $128,700, −3.2%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$24,150 +10.0%	$27,600 +10.0%	$31,050 +9.9%	$34,450 +7.2%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$40,200 +10.0%	$45,950 +9.9%	$51,700 +10.0%	$57,450 +10.0%	$62,050 +9.9%	$66,650 +9.9%	$71,200 +10.0%	$75,800 +9.9%
Low income (80%)	$64,350 +9.9%	$73,550 +9.9%	$82,750 +10.0%	$91,900 +9.9%	$99,300 +10.0%	$106,650 +9.9%	$114,000 +9.9%	$121,350 +9.9%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.