The 2 bedroom fair market rent in Lutsen (Cook County) is $1,180 for FY2026. Rents here moved +2.6 percent year over year. ZIP 55612 sits in the Cook County, MN area.
See how this ZIP compares for Section 8 vouchers, fair market rent against market asking rent for every tracked Minnesota ZIP.
| Unit size | FY2026 FMR | Vs FY2025 | ACS median |
|---|---|---|---|
| Studio | $810 | +2.5% | |
| 1 bedroom | $1,070 | +2.9% | |
| 2 bedroom | $1,180 | +2.6% | |
| 3 bedroom | $1,560 | +2.0% | |
| 4 bedroom | $1,710 | +3.0% |
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.
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Among the 6 Cook County ZIP codes with a HUD rent estimate, 55612 ranks number 3 of 6 on 2 bedroom fair market rent. That is $80 above the county median of $1,100. The county runs from $970 in Grand Portage 55605 to $1,390 in Tofte 55615. Statewide the median 2 bedroom fair market rent is $1,090, which puts Lutsen 8 percent above the Minnesota median. Zillow does not publish a rent index for 55612, so the fair market rent is the only published rent benchmark here. The landlord voucher check compares an asking rent against it.
Of the 6 nearest ZIP codes with an estimate, Tofte 55615 carries the highest 2 bedroom fair market rent at $1,390 and Hovland 55606 the lowest at $1,010, against $1,180 here.
The HUD fair market rent for a 2 bedroom in ZIP 55612 is $1,180 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 2.6 percent from FY2025 to FY2026, moving from $1,150 to $1,180.
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 $1,180 for a 2 bedroom, a deal in Lutsen 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.
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