Cheap Apartments for Rent in Faribault, MN from $500 (6 Rentals)

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Southgate Village
1 to 2 Bedroom Apartments

Southgate Village

1518 9th Ave SWFaribault, MN 55021
Senior Living
  • Utilities Included

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.

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Southgate Village
1 to 2 Bedroom Apartments

Southgate Village

1528 9th Ave SWFaribault, MN 55021
property at 101 Elm St

$875

Total Monthly Price

Total Monthly Price

Base Rent
$875

Total Monthly Price
$875

2 Bedroom, 1 Bath Condo for Rent

Available Jan 31

101 Elm St

ClaremontMN55924

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.

Faribault, MN Local Guide

Cheapest Neighborhoods for Apartments in Faribault, MN

Pricing Updated: 01/23/2026

Current 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:

NeighborhoodMedian PriceMin PriceAvailable Units
Bluebird Estates$1,450$97526
Cottage Grove$1,450$97526
Downtown Faribault$1,450$97527
Fair Park$1,450$97527

Cheapest Available Faribault Apartments for Rent and Nearby

 

The cheapest available apartment rental in Faribault, MN is a 1 Bed unit found at Four Seasons Apartments in the Downtown Faribault neighborhood priced from $975. Town's Edge Place Apartments in the Downtown Faribault neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,030. Here is today’s list of the most affordable Faribault apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Four Seasons ApartmentsCozy One Bedroom Apartment Home1BR,1BA$975
Town's Edge Place Apartments1 Bedroom1BR,1BA$1,030
The Faribo ApartmentsTwo Bedroom A2BR,1BA$1,225

Best Value Apartments for Rent in Faribault, MN and Nearby

As of January 23, 2026 the best value apartment in the Faribault area is the $1.50 price per square foot 2 Bedroom 2 Bath + Den Model at Straight River Apartments, LLC in the in the Downtown Faribault neighborhood starting from $1,875. The second greatest value Faribault apartment is the 2 bedroom 1 bathroom Model at Heritage Bluff Apartments LLC starting at $1,345 with a $1.36 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Straight River Apartments, LLC2 Bedroom 2 Bath + Den2BR,2BA$1.50
Heritage Bluff Apartments LLC2 bedroom 1 bathroom2BR,1BA$1.36
Town's Edge Place Apartments3 Bedroom3BR,2BA$1.50
The Faribo ApartmentsTwo Bedroom A2BR,1BA$1.63
Four Seasons ApartmentsBeautiful Two Bedroom Apartment Home2BR,1BA$1.62
Elmview II Apartments1 BD/1 BA1BR,1BA$2.04

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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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Faribault Apartments

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

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.

Articles, How-To's, and Tips

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.

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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.