Apply to Faribault Apartment Waiting Lists

Village Green Apartments

810 Conliffe Ave SW
Faribault, Minnesota
Call For Rent
1-3 BR

Windsor Greens

1425 Prairie Ave SW
Faribault, Minnesota
S. 515 Rural
1-2 BR

Faribault Public Housing

1518 Western Ave NW
Faribault, Minnesota
Public Housing

Village at Park Avenue

1625 17th St NW
Faribault, Minnesota

Park Central Apartments

521 4th Ave NW
Faribault, Minnesota
S. 515 Rural
Showing Results 11-15

There are 220 low-income apartments in Faribault that offer reduced rents to eligible households. Low-income rents in Faribault, Minnesota can range from $595 to $928 depending on the number of bedrooms.

Rental assistance programs support 437 low-income homes in Faribault where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $559 towards rent each month.

Affordable rent data for some communities last confirmed on January 17th, 2023. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving 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.

Housing Authority Programs
Faribault Housing and Redevelopment Authority Public Housing
Rice County Housing and Redevelopment Authority Section 8 Housing Choice Voucher (HCV)
Go to the Minnesota Public Housing and Low-Income Apartments Waiting Lists page for openings near Faribault.

Faribault, Minnesota Affordable Housing Data

Income Based Apartments in Faribault, Minnesota

Faribault features 437 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 220 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 $966 and $1,180.

2023 Faribault, Minnesota Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Faribault, Minnesota Fair Market Rent $795 $815 $1,073 $1,477 $1,688
Faribault, Minnesota Payment Standard Range $716 to $875 $734 to $897 $966 to $1,180 $1,329 to $1,625 $1,519 to $1,857

Sourced from federal housing data and research.

Faribault, MN Affordable Housing Snapshot

Total Affordable Apartment Properties 21
Total Low Income Apartments 657
Total Housing Units with Rental Assistance 437
Percentage of Housing Units Occupied By Renters 35.75%
Average Renter Household Size 2.37
Average Household Size 2.47
Median Household Income $48,220 ±$3,793
Median Rent $691 ±$57
Percentage Of Renters Overburdened 43.77% ± 8.99pp
Total Population 23,509

Population and Household Demographics

Faribault is a city in Rice County, Minnesota with a population of 23,509. There are 8,301 households in the city with an average household size of 2.47 persons. 35.75% of households in Faribault are renters.

Income and Rent Overburden in Faribault

The median gross income for households in Faribault is $48,220 a year, or $4,018 a month. The median rent for the city is $691 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Faribault, a household making less than $2,303 a month would be considered overburdened when renting an apartment at or above the median rent. 43.77% of households who rent are overburdened in Faribault.

Area Median Income In Faribault

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Faribault, the AMI is calculated from all households within Rice County.

In Faribault, HUD calculates the Area Median Income for a family of four as $93,000

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

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 HUD Rental Assistance in Faribault

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Faribault AMI may qualify for rental assistance programs that target Extremely Low Income households.
$19,550 $22,350 $25,150 $30,000 $35,140 $40,280 $45,420 $50,560
50% AMI Income Limits
Renters earning up to 50% of the Faribault AMI may qualify for rental assistance programs that target Very Low Income households.
$32,550 $37,200 $41,850 $46,500 $50,250 $53,950 $57,700 $61,400
80% AMI Income Limits
Renters earning up to 80% of the Faribault AMI may qualify for rental assistance programs that target Low Income households.
$52,100 $59,550 $67,000 $74,400 $80,400 $86,350 $92,300 $98,250