Low Income Apartments and Affordable Housing For Rent in Faribault, MN

Discover affordable housing in Faribault where there are 21+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Prairiewood Townhomes

1515 Deerwood Lane, Faribault, Minnesota 55021

bed 2-4
payment $730-928/mo.

Southgate Village

1518 9th Ave SW, Faribault, Minnesota 55021

bed 1-2
payment $595-635/mo.

Greenwood Place

901 Greenwood Place, Faribault, Minnesota 55021

bed 1-3

The Lofts at Evergreen Knoll

2275 4th St NW, Faribault, Minnesota 55201

bed 1-3
payment $731-1162/mo.

Two Rivers Estates

2426 Park Ave NW, Faribault, Minnesota 55021

Spring Court Apartments

915 Spring Rd, Faribault, Minnesota 55021

Spring Court Townhomes

919 Spring Rd, Faribault, Minnesota 55021

Halter Two Apartments

907 Spring Rd, Faribault, Minnesota 55021

Halter One

906 Spring Rd Sw, Faribault, Minnesota 55021

Alexander Apartments

917 1st St SW, Faribault, Minnesota 55021

Windsor Greens

1425 Prairie Ave SW, Faribault, Minnesota 55021

bed 1-2
payment $505-585/mo.

Park Central Apartments

521 4th Ave NW, Faribault, Minnesota 55021

St Lucas Riverside Apartments, Inc

501 1st St SE, Faribault, Minnesota 55021

Robinwood Manor

1324 Prairie Ave SW, Faribault, Minnesota 55021

Towns Edge Apartments

851 Faribault Road, Faribault, Minnesota 55021

Village Green Apartments

810 Conliffe Ave SW, Faribault, Minnesota 55021

bed 1-3

Village at Park Avenue

1625 17th St NW, Faribault, Minnesota 55021

Towns Edge Apartments

851 Faribault Rd, Faribault, Minnesota 55021

Golden Meadows Apartments

1415 Prairie Ave SW, Faribault, Minnesota 55021

Central Elderly Apartments

12 Central Ave N, Faribault, Minnesota 55021

auto_awesome Focus Results:
switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
elderly Senior
payment Income Based
accessibility Accessible
accessible_forward Disability

How To Identify Affordable Housing in Faribault, Minnesota

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Faribault, Minnesota
$13.99 (+158%) more than Minnesota minimum wage and $15.59 (+215%) more than the Federal minimum wage.
Learn More About Faribault, Minnesota Affordable Housing ↓

What HUD offices serve Faribault, Minnesota?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Public Housing programs for Faribault, Minnesota.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Faribault, Minnesota.

Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Faribault.

How many renters live in Faribault, Minnesota?

The City of Faribault has people living in households.

There are renters living in renter households in this City. Renters make up 31.17 percent of the population living in Faribault.

What is the rental market like in Faribault, Minnesota?

There are an estimated housing units in the Faribault area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Faribault, Minnesota, there are 1.03 rental units.

What is the vacancy rate for rentals in Faribault?

The rental vacancy rate in Faribault is 2 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Faribault for each bedroom size?

Occupied Rental Units by Size in Faribault
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
161 802 1,432 560 171
Occupied Rental Units by Size in Faribault

A large number of apartments in Faribault have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Faribault

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $913 to $1,932. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $913
One BR $918
Two BR $1,206
Three BR $1,634
Four BR $1,932
2024 Fair Market Rents in Faribault, Minnesota

How many units are rented at Fair Market Rent (FMR) in Faribault?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 91 57 percent
One BR 583 73 percent
Two BR 843 59 percent
Rental Units Below FMR in Faribault, Minnesota

How many affordable rental units are in Faribault?

There are a variety of federal affordable housing programs serving households in Faribault, Minnesota including the following:

Federal Program Unit Count
Low Income Housing Tax Credit
Public Housing
Section 8 Project-Based Rental Assistance
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Faribault, Minnesota

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Faribault, Minnesota

Faribault features 521 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Faribault, Minnesota

There are 160 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Faribault.

Housing Choice Vouchers in Faribault, Minnesota

On average, Section 8 Housing Choice vouchers pay Faribault landlords $400 per month towards rent. The average voucher holder contributes $600 towards rent in Faribault.

The maximum amount a voucher would pay on behalf of a low-income tenant in Faribault, Minnesota for a two-bedroom apartment is between $1,085 and $1,327.

Sourced from federal housing data and AffordableHousingOnline.com research.