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Lake County/Beaver Bay/55601

55601

ZIPSAFMR
Lake County, MN
Zillow

ZIP Investment Score

84Below average

095130300
BRFMR
Eff. Rent
0 BR$940$940
1 BR$1,030$1,030
2 BR$1,350$1,350
3 BR$1,610$1,610
4 BR$1,970$1,970
5 BR$2,266Not available
6 BR$2,605Not available
7 BR$2,996Not available
8 BR$3,446Not available

Purchase Price Calculator

Maximum purchase price
$138,693

Cost breakdown

+Likely effective rent$1,350
HUD FMRUsed$1,350
Market rentN/A
Est. payment standardN/A
-Principal and interest-$701
Loan amount$110,954
Down payment$27,739
Rate6.50%
Term30 years
-Operating costs-$449
Property taxes-$139
Insurance-$175
Utilities$0
HOA$0
Management-$135
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,839(78.7% ROI)
Projected value
$149,357
Return breakdown
Property appreciation+$10,664
Loan principal paid down+$3,975
Rental cash flow+$7,200
5-year hold
+$37,314(134.5% ROI)
Projected value
$156,918
Return breakdown
Property appreciation+$18,225
Loan principal paid down+$7,089
Rental cash flow+$12,000
10-year hold
+$79,737(287.5% ROI)
Projected value
$177,539
Return breakdown
Property appreciation+$38,846
Loan principal paid down+$16,892
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 55601 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 55601 (Beaver Bay, MN) is $1,350 a month. That is up 4.7% from $1,290 in FY 2026. Beaver Bay is in the Lake County, MN non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,358. Among 9 ZIP codes in Lake County, 55601 has the 3rd-highest two-bedroom rent (county range $1,150–$1,480). The median county two-bedroom FMR in Minnesota is $1,048, so ZIP 55601 is 29% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 55601
BedroomsFY 2027Change90–110% range
Studio$940+5.6%$846–$1,034
1BR$1,030+5.1%$927–$1,133
2BR$1,350+4.7%$1,215–$1,485
3BR$1,610+3.9%$1,449–$1,771
4BR$1,970−0.5%$1,773–$2,167

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 55601
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$940$1,030$1,350$1,610$1,970
FY 2026$890$980$1,290$1,550$1,980
FY 2025$900$1,000$1,310$1,580$2,190
FY 2024$850$950$1,240$1,650$2,110
FY 2023$780$910$1,090$1,440$1,790

Two-bedroom rent in nearby Lake County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 55601
55601Current$1,350—
55602$1,230−8.9%
55603$1,150−14.8%
55607$1,150−14.8%
55609$1,480+9.6%
55614$1,320−2.2%
55616$1,420+5.2%
55731$1,150−14.8%
55796$1,150−14.8%

Questions about ZIP 55601 rents

How much will Section 8 pay for a two-bedroom in ZIP 55601?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,358, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,222 to $1,494 a month; under the ZIP-level Small Area FMR of $1,350 it would be $1,215 to $1,485. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 55601 in?

ZIP 55601 is in the Lake County, MN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,358.

How much did fair market rent change in ZIP 55601 for FY 2027?

The two-bedroom FMR rose 4.7%, from $1,290 in FY 2026 to $1,350 in FY 2027. Since FY 2023 it has risen 23.9%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentBeaver Bay, MN fair market rentMN statewide rentsWhat is SAFMR?Data sources