Affordable Housing In Faribault County
Minnesota

11 Low Income Apartment Communities In Faribault County

Bricelyn Plaza

314 N Main St
Bricelyn, MN
$730
1 BR
Subsidized

Garden Court Apartments

333 2nd Ave SW
Winnebago, MN
$673-775
1-2 BR
62+
Accessible
Subsidized

Kee Valley Apartments

408 N Main St
Kiester, MN
$605-630
1-2 BR
Subsidized

Broadway Apartments - - ( Wells )

219 S Broadway
Wells, MN
Subsidized

Blue Ridge Apartments

520 N Grant St
Blue Earth, MN
Subsidized

New Life Manor

505 E 17th St
Blue Earth, MN
62+
Accessible
Elderly Supportive Housing
Subsidized

Bricelyn Apartments

705 N 5th St
Bricelyn, MN

Blue Earth City Hra

220 E 7th St
Blue Earth, MN

Eastown Apartments

365 2nd Ave NE
Wells, MN

Parkview Apartments

208 E Jay St
Elmore, MN

Housing Authorities that serve Faribault County

Housing Authority Programs
Minnesota Valley Action Council Section 8 Housing Choice Voucher (HCV)

Other Housing Authorities located in Faribault County

Housing Authority Programs
Housing and Redevelopment Authority of Blue Earth Public Housing

Guide To Affordable Housing in Faribault County, Minnesota

According to federal housing data and AffordableHousingOnline.com research, there are 11 low income housing apartment communities offering 270 affordable apartments for rent in Faribault County, Minnesota. Faribault County features 208 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 62 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Faribault County.

Faribault County, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 11
Total Low Income Apartments 270
Total Housing Units with Rental Assistance 208
Percentage of Housing Units Occupied By Renters 23.17%
Average Renter Household Size 1.99
Average Household Size 2.18
Median Household Income $47,540 ±$2,494
Median Rent $538 ±$34
Percentage Of Renters Overburdened 33.38% ± 6.29pp
Total Population 14,230

Population and Household Demographics

Faribault County is a County in Minnesota with a population of 14,230. There are 6,374 households in the county with an average household size of 2.18 persons. 23.17% of households in Faribault County are renters.

Income and Rent Overburden in Faribault County

The median gross income for households in Faribault County is $47,540 a year, or $3,962 a month. The median rent for the county is $538 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Faribault County, a household making less than $1,793 a month would be considered overburdened when renting an apartment at or above the median rent. 33.38% of households who rent are overburdened in Faribault County.1

Area Median Income In Faribault County

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

In Faribault County, HUD calculates the Area Median Income for a family of four as $63,800

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Faribault County

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Faribault County HUD Rental Assistance in Faribault County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,200 $17,400 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $25,350 $29,000 $32,600 $36,200 $39,100 $42,000 $44,900 $47,800
80% of Median $40,550 $46,350 $52,150 $57,900 $62,550 $67,200 $71,800 $76,450
Low Income Housing Tax Credits in Faribault County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1996 to 1996, 1 low income apartment communities containing 11 rental apartments have been constructed and made affordable to low income persons in Faribault County by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Faribault County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $25,350 $29,000 $32,600 $36,200 $39,100 $42,000 $44,900 $47,800
60% of Median $30,420 $34,800 $39,120 $43,440 $46,920 $50,400 $53,880 $57,360

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Faribault County is $39,120 a year, or $3,260 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,260 by 30% to get a maximum rent of $978 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $634 $679 $815 $941 $1,050 $1,159
60% $761 $815 $978 $1,130 $1,260 $1,391
Fair Market Rents in Faribault County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$471 $542 $714 $945 $1,030

Cities In Faribault County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Bricelyn 2 The HUD funded Public Housing Agency that serves Bricelyn is the Minnesota Valley Action Council.
Kiester 1 The HUD funded Public Housing Agency that serves Kiester is the Minnesota Valley Action Council.
Wells 3 The HUD funded Public Housing Agency that serves Wells is the Minnesota Valley Action Council.
Winnebago 1 The HUD funded Public Housing Agency that serves Winnebago is the Minnesota Valley Action Council.
Blue Earth 3 The HUD funded Public Housing Agencies that serve Blue Earth are the Housing and Redevelopment Authority of Blue Earth and Minnesota Valley Action Council.
Elmore 1 The HUD funded Public Housing Agency that serves Elmore is the Minnesota Valley Action Council.
Barber 0 The HUD funded Public Housing Agency that serves Barber is the Minnesota Valley Action Council.
Blue Earth City 0 The HUD funded Public Housing Agency that serves Blue Earth City is the Minnesota Valley Action Council.
Brush Creek 0 The HUD funded Public Housing Agency that serves Brush Creek is the Minnesota Valley Action Council.
Clark 0 The HUD funded Public Housing Agency that serves Clark is the Minnesota Valley Action Council.
Delavan 0 The HUD funded Public Housing Agency that serves Delavan is the Minnesota Valley Action Council.
Delavanship 0 The HUD funded Public Housing Agency that serves Delavanship is the Minnesota Valley Action Council.
Dunbar 0 The HUD funded Public Housing Agency that serves Dunbar is the Minnesota Valley Action Council.
Easton 0 The HUD funded Public Housing Agency that serves Easton is the Minnesota Valley Action Council.
Elmoreship 0 The HUD funded Public Housing Agency that serves Elmoreship is the Minnesota Valley Action Council.
Emerald 0 The HUD funded Public Housing Agency that serves Emerald is the Minnesota Valley Action Council.
Foster 0 The HUD funded Public Housing Agency that serves Foster is the Minnesota Valley Action Council.
Frost 0 The HUD funded Public Housing Agency that serves Frost is the Minnesota Valley Action Council.
Jo Daviess 0 The HUD funded Public Housing Agency that serves Jo Daviess is the Minnesota Valley Action Council.
Kiestership 0 The HUD funded Public Housing Agency that serves Kiestership is the Minnesota Valley Action Council.
Lura 0 The HUD funded Public Housing Agency that serves Lura is the Minnesota Valley Action Council.
Minnesota Lake 0 The HUD funded Public Housing Agency that serves Minnesota Lake is the Minnesota Valley Action Council.
Pilot Grove 0 The HUD funded Public Housing Agency that serves Pilot Grove is the Minnesota Valley Action Council.
Prescott 0 The HUD funded Public Housing Agency that serves Prescott is the Minnesota Valley Action Council.
Rome 0 The HUD funded Public Housing Agency that serves Rome is the Minnesota Valley Action Council.
Seely 0 The HUD funded Public Housing Agency that serves Seely is the Minnesota Valley Action Council.
Verona 0 The HUD funded Public Housing Agency that serves Verona is the Minnesota Valley Action Council.
Walnut Lake 0 The HUD funded Public Housing Agency that serves Walnut Lake is the Minnesota Valley Action Council.
Walters 0 The HUD funded Public Housing Agency that serves Walters is the Minnesota Valley Action Council.
Winnebago City 0 The HUD funded Public Housing Agency that serves Winnebago City is the Minnesota Valley Action Council.