Lake of the Woods County, MN: 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).

$1,1542-bedroom FMR, FY2027

$8821-bedroom FMR, FY2027

$79,30080% income limit, family of 4 (FY2026)

$99,100Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Lake of the Woods County is $1,154 a month, up 13.8% from $1,014 in FY2026. Lake of the Woods County belongs to the Lake of the Woods County, MN 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 of the Woods County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$804	$699	+15.0%	$724 – $884
1 bedroom	$882	$773	+14.1%	$794 – $970
2 bedrooms	$1,154	$1,014	+13.8%	$1,039 – $1,269
3 bedrooms	$1,375	$1,216	+13.1%	$1,238 – $1,512
4 bedrooms	$1,685	$1,474	+14.3%	$1,517 – $1,853

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 of the Woods County that is typically $1,039 to $1,269 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?

$35,809median income of renter households

$955Median gross rent, all units

32%Rent-to-income ratio (median rent ÷ median renter income)

52%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $35,809 can afford about $895 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,154 is $259 (28.9%) more than that. To rent a two-bedroom at the FMR, a household needs $46,160 a year under the 30% rule, or $41,544 under the common landlord rule that income must be three times the rent.

Lake of the Woods County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$955 ±$49
Median income of renter households	$35,809 ±$14,934
Renters paying 30% or more of income (cost-burdened)	52.4% ±15.0
Renters paying 50% or more (severely cost-burdened)	13.2% ±6.3
Renter households (where the share can be computed)	296

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$678	$955	+40.9%
Median renter household income	$34,911	$35,809	+2.6%
Renters paying 30%+ of income	38.7%	52.4%	+13.7 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 of the Woods County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $99,100 (FY2025: $96,400, +2.8%). 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%)	$20,850 +3.0%	$23,800 +2.8%	$27,320 +2.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$34,700 +2.8%	$39,650 +2.7%	$44,600 +2.8%	$49,550 +2.8%	$53,550 +2.8%	$57,500 +2.8%	$61,450 +2.8%	$65,450 +2.8%
Low income (80%)	$55,550 +2.9%	$63,450 +2.8%	$71,400 +2.9%	$79,300 +2.9%	$85,650 +2.8%	$92,000 +2.9%	$98,350 +2.8%	$104,700 +2.8%

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.