The 2 bedroom fair market rent in Silver Bay (Lake County) is $1,260 for FY2026. Rents here moved -3.8 percent year over year. ZIP 55614 sits in the Lake County, MN area.
| Unit size | FY2026 FMR | Vs FY2025 | ACS median |
|---|---|---|---|
| Studio | $870 | -3.3% | |
| 1 bedroom | $960 | -4.0% | |
| 2 bedroom | $1,260 | -3.8% | |
| 3 bedroom | $1,510 | -4.4% | |
| 4 bedroom | $1,980 | -10.0% |
FMR is the HUD Fair Market Rent for this ZIP, the 40th percentile of gross rents. It anchors Section 8 payment standards and runs below top of market. ACS median is the Census survey estimate where available.
The HUD fair market rent for a 2 bedroom in ZIP 55614 is $1,260 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent fell 3.8 percent from FY2025 to FY2026, moving from $1,310 to $1,260.
Fair Market Rent is HUD's estimate of the 40th percentile gross rent for a ZIP. It sets Section 8 payment standards, so it is the rent a voucher will support here. Investors use it as a conservative floor when underwriting rental income.
Rent level is only one input. Run the numbers: at $1,260 for a 2 bedroom, a deal in Silver Bay pencils or it does not based on price, taxes, insurance, and financing. Pencilwrite computes cap rate, cash-on-cash, DSCR, and true ROE from a few inputs.
Pencilwrite turns an address, a price, and these rents into a full underwrite, cap rate, cash-on-cash, DSCR, true ROE, taxes, and an offer you can send. Join the early access list.
