The 2 bedroom fair market rent in Lake Park (Becker County) is $970 for FY2026. Rents here moved +4.3 percent year over year. ZIP 56554 sits in the Becker 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 | $670 | +4.7% | |
| 1 bedroom | $740 | +2.8% | |
| 2 bedroom | $970 | +4.3% | |
| 3 bedroom | $1,270 | +1.6% | |
| 4 bedroom | $1,400 | +0.7% |
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 13 Becker County ZIP codes with a HUD rent estimate, 56554 ranks number 10 of 13 on 2 bedroom fair market rent. That is $30 below the county median of $1,000. The county runs from $970 in White Earth 56591 to $1,080 in Ogema 56569. Statewide the median 2 bedroom fair market rent is $1,090, which puts Lake Park 11 percent below the Minnesota median. The largest single year move since FY2021 came in FY2024, +9.6 percent, and the 2 bedroom estimate has gone from $760 to $970 over 5 fiscal years. Zillow does not publish a rent index for 56554, 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, Detroit Lakes 56501 carries the highest 2 bedroom fair market rent at $1,070 and Callaway 56521 the lowest at $970, against $970 here.
The HUD fair market rent for a 2 bedroom in ZIP 56554 is $970 for FY2026. Actual rents vary by unit size, condition, and location within the ZIP.
The 2 bedroom fair market rent rose 4.3 percent from FY2025 to FY2026, moving from $930 to $970.
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 $970 for a 2 bedroom, a deal in Lake Park 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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