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.
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 | $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.
Get an email when rents change in ZIP 55614. We will send a short note, not a newsletter.
Among the 6 Lake County ZIP codes with a HUD rent estimate, 55614 ranks number 4 of 6 on 2 bedroom fair market rent. That is $15 below the county median of $1,275. The county runs from $1,120 in Isabella 55607 to $1,470 in Knife River 55609. Statewide the median 2 bedroom fair market rent is $1,090, which puts Silver Bay 16 percent above the Minnesota median. The largest single year move since FY2022 came in FY2023, +25.6 percent, and the 2 bedroom estimate has gone from $900 to $1,260 over 4 fiscal years. Zillow does not publish a rent index for 55614, 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 Finland 55603 the lowest at $1,120, against $1,260 here.
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. Limited beta access spots open. Sign up for the beta, opening in the next two months. Free.
