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Cheap Apartments for Rent in Faribault, MN from $500 (4 Rentals)
Search the lowest-cost Apartments available for rent right now in Faribault.
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
919 N Elm Ave
OwatonnaMN55060
437 Romeo Dr
LakevilleMN55044
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
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Faribault, MN Local Guide
Minnesota Flags by Tony Webster is licensed under CC BY 2.0
How much does it cost to rent an apartment in Faribault?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Faribault Studio Apartments | $1,092 | $950 | $1,179 |
| Faribault 1 Bedroom Apartments | $1,258 | $950 | $1,379 |
| Faribault 2 Bedroom Apartments | $1,448 | $1,170 | $1,875 |
| Faribault 3 Bedroom Apartments | $1,491 | $1,350 | $1,650 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Faribault, MN Local Guide
- Faribault Neighborhoods
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Cheapest Neighborhoods for Apartments in Faribault, MN
Pricing Updated: 12/08/2025Current apartment rentals in the Faribault, MN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Faribault Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Downtown Faribault | $1,900 | $1,350 | 2 |
| Fair Park | $1,947 | $1,350 | 2 |
| Cottage Grove | $1,995 | $1,350 | 1 |
Best Value Apartments for Rent in Faribault, MN and Nearby
As of December 08, 2025 the best value apartment in the Faribault area is the $1.46 price per square foot 2 Bedroom 2 Bath + Den Model at Straight River Apartments, LLC in the in the Downtown Faribault neighborhood starting from $1,835. The second greatest value Faribault apartment is the 1935 7th St NW Model at 1935 7th St NW, Unit A starting at $1,500 with a $1.50 price per square foot in the Downtown Faribault neighborhood. Here is today’s list of the best values for Faribault apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Straight River Apartments, LLC | 2 Bedroom 2 Bath + Den | 2BR,2BA | $1.46 |
| 1935 7th St NW, Unit A | 1935 7th St NW | 3BR,1BA | $1.50 |
| Heritage Bluff Apartments LLC | 2 bedroom 1 bathroom | 2BR,1BA | $1.36 |
| Town's Edge Place Apartments | 3 Bedroom | 3BR,2BA | $1.50 |
| The Faribo Apartments | Two Bedroom A | 2BR,1BA | $1.63 |
| Four Seasons Apartments | Beautiful Two Bedroom Apartment Home | 2BR,1BA | $1.62 |
| Elmview II Apartments | 1 BD/1 BA | 1BR,1BA | $2.04 |
| Midwest Flats | 1 Beds, 1 Baths | 1BR,1BA | $2.20 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
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Best Local Schools in Faribault, MN
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Getting Around Faribault, MN
Walk Score®
47 / 100
Car-Dependent
Most errands require a car
Bike Score®
53 / 100
Bikeable
Some bike infrastructure
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Faribault Apartments
What is the Cheapest Studio apartment in Faribault?
Currently the most affordable Cheap Studio Apartment in Faribault is at Midwest Flats listed at $999.
How much is rent for a Cheap One Bedroom Faribault Apartment?
The lowest price for a Cheap One Bedroom Faribault Apartment is $975 at Four Seasons Apartments.
What is the lowest price for a Cheap Two Bedroom Faribault Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Faribault is starting from $1,170 at Town's Edge Place Apartments.
What is the most affordable Faribault Three Bedroom Apartment?
The best deal on a cheap Faribault Three Bedroom Apartment rental is at Four Seasons Apartments and starts from $1,350.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.