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

Discover affordable housing in Faribault County where there are 12+ 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.

Bricelyn Plaza

314 N Main St, Bricelyn, Minnesota 56014

Garden Court Apartments

333 2nd Ave SW, Winnebago, Minnesota 56098

Kee Valley Apartments

408 N Main St, Kiester, Minnesota 56051

Parkview Apartments

208 E Jay St, Elmore, Minnesota 56027

Broadway Apartments

219 S Broadway, Wells, Minnesota 56097

New Life Manor

505 E 17th St, Blue Earth, Minnesota 56013

Blue Ridge Apartments

520 N Grant St, Blue Earth, Minnesota 56013

Northside Estates

130 2nd Avenue Nw, Winnebago, Minnesota

Blue Earth City Hra

220 E 7th St, Blue Earth, Minnesota 56013

Wellington Estates

400 4th Ave SW, Wells, Minnesota 56097

Eastown Apartments

365 2nd Ave NE, Wells, Minnesota 56097

Bricelyn Apartments

705 N 5th St, Bricelyn, Minnesota 56014

Open Until Further Notice

Reported On February 23rd, 2024 by Chris Madden

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Faribault County, Minnesota
$17.14/hour
$8.29 (+94%) more than Minnesota minimum wage and $9.89 (+136%) more than the Federal minimum wage.
Learn More About Faribault County, Minnesota Affordable Housing ↓

What HUD offices serve Faribault County, 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 Section 8 Housing Choice Voucher (HCV) programs for Faribault County, Minnesota.

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

How many renters live in Faribault County, Minnesota?

The County of Faribault County has 13,931 people living in 6,006 households.

There are 2,457 renters living in 1,176 renter households in this County. Renters make up 17.64 percent of the population living in Faribault County.

What is the rental market like in Faribault County, Minnesota?

There are an estimated 6,915 housing units in the Faribault County area. Of these, 1,195 units are rental homes, making up 17 percent of the housing market. For every renter household in Faribault County, Minnesota, there are 1 rental units.

What is the vacancy rate for rentals in Faribault County?

The rental vacancy rate in Faribault County is 0 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 County for each bedroom size?

Occupied Rental Units by Size in Faribault County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
23 346 384 217 156
Occupied Rental Units by Size in Faribault County

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

How many renter households in Faribault County are overburdened by housing costs?

Among renter households in this market, 35 percent have housing cost burden. Further, 16 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Faribault County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $613 to $1,260. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $613
One BR $726
Two BR $905
Three BR $1,256
Four BR $1,260
2024 Fair Market Rents in Faribault County, Minnesota

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

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 8 35 percent
One BR 247 71 percent
Two BR 284 74 percent
Rental Units Below FMR in Faribault County, Minnesota

How many affordable rental units are in Faribault County?

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

Federal Program Unit Count
Public Housing 54
Section 8 Project-Based Rental Assistance 132
USDA Section 515 Rural Rental Housing 44
Tracked Units by Federal Program in Faribault County, Minnesota

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

Income Based Apartments in Faribault County, Minnesota

Faribault County features 246 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 County, Minnesota

There are 22 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Faribault County.

Housing Choice Vouchers in Faribault County, Minnesota

On average, Section 8 Housing Choice vouchers pay Faribault County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Faribault County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Faribault County, Minnesota for a two-bedroom apartment is between $815 and $996.

Sourced from federal housing data and AffordableHousingOnline.com research.