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Affordable apartments in Faribault, Minnesota

10 income-restricted buildings tracked here, drawn from HUD's LIHTC, Section 8, Section 202, and Section 811 datasets. Map, eligibility tiers, and Fair Market Rent below.

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Buildings

VILLAGE AT PARK AVENUE

LIHTC
MULTIPLE BUILDING ADDRESSES, FARIBAULT, MN, 55021
Income-restricted units
40 of 40
Year placed in service
1997
Bedroom mix
10 2BR · 30 3BR

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

VILLAGE GREEN APTS

LIHTC
810 CONLIFFE AVE SW, FARIBAULT, MN, 55021
Income-restricted units
36 of 36
Year placed in service
1993

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

PRAIRIEWOOD TOWNHOMES

LIHTC
MULTIPLE BUILDING ADDRESSES, FARIBAULT, MN, 55021
Income-restricted units
30 of 30
Year placed in service
2014
Bedroom mix
2 2BR · 22 3BR · 6 4+BR

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

ST. LUCAS RIVERSIDE APARTMENTS, INC

Section 202
501 FIRST ST SE, Faribault, MN, 55021
Income-restricted units
30 of 30
Year placed in service
Not reported

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

2 RIVERS APARTMENTS (FKA PARK AVE APTS)

LIHTC
2426 PARK AVE, FARIBAULT, MN, 55021
Income-restricted units
30 of 30
Year placed in service
1992
Bedroom mix
4 1BR · 23 2BR · 3 3BR

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

ST. LUCAS RIVERSIDE APARTMENTS, INC

Section 8
501 FIRST ST SE, Faribault, MN, 55021
Income-restricted units
30 of 30
Year placed in service
Not reported

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

PARK CENTRAL APARTMENTS

LIHTC
521 4TH AVE NW, FARIBAULT, MN, 55021
Income-restricted units
24 of 24
Year placed in service
1993

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

SPRING COURT

LIHTC
MULTIPLE BUILDING ADDRESSES, FARIBAULT, MN, 55021
Income-restricted units
24 of 24
Year placed in service
1993

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

CENTRAL ELDERLY APTS

LIHTC
12 CENTRAL AVE N, FARIBAULT, MN, 55021
Income-restricted units
18 of 18
Year placed in service
1988

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

HALTER TWO

LIHTC
907 SPRING RD, FARIBAULT, MN, 55021
Income-restricted units
17 of 18
Year placed in service
1988

Estimated total housing cost: $1,044 rent + $117 utilities = $1,161/mo

Contact property management for current availability. Waitlists may apply.

Map

Each pin is one income-restricted building. Color-coded by program. Click a pin for details.

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Energy costs in Minnesota

Residential electricity in Minnesota runs about 15.95¢/kWh, with a typical monthly residential electric bill near $117. Natural gas runs about $12.68/Mcf. Add this to rent when you compare buildings; it can shift total monthly housing cost by 10–20%.

Source: U.S. Energy Information Administration, retail-sales (electricity) and natural gas residential pricing series, 12-month rolling average.

Check your affordability tier

Enter your annual household income, household size, and zip code. We’ll show which HUD AMI tier you qualify for and what Fair Market Rent looks like in your area.

Fair Market Rent for Faribault, MN

Metro-level
BedroomsLocal FMRNational median
Studio$887n/a
1 bedroom$992n/a
2 bedroom$1,044$1,502
3 bedroom$1,357n/a
4 bedroom$1,566n/a

Fair Market Rent is HUD’s annual benchmark for the cost of rental housing in a given area. Source label: median_rent_proxy.

HUD income limits : Rice County, MN

FY2025. Area median income: $107,700.

Household size30% AMI50% AMI80% AMI
1 person$22,650$37,700$60,350
2 people$25,850$43,100$68,950
3 people$29,100$48,500$77,550
4 people$32,300$53,850$86,150
5 people$37,650$58,200$93,050
6 people$43,150$62,500$99,950
7 people$48,650$66,800$106,850
8 people$54,150$71,100$113,750

HUD calculates income limits per household size relative to the area’s median family income. Properties may serve renters in any combination of these tiers; eligibility is determined per program.

Affordable rentals in nearby Minnesota cities

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About this listing. Buildings shown serve income-restricted households across HUD program tiers. We do not show vacancy or pricing for individual units. Always contact the property directly for current availability; many income-restricted buildings maintain waitlists measured in months or years.

See also: Faribault cost-of-living and Fair Market Rent overview