416 7th St NW
FaribaultMN55021
Cheap Apartments for Rent in the Downtown Faribault Neighborhood of Faribault, MN from $500 (6 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Faribault area of Faribault.
603 1st St SW
FaribaultMN55021
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$915 - $1,715
Total Monthly Price12 Month Lease Term
Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$875 - $1,675
Required Monthly Fees
$40
Total Monthly Price
$915 - $1,715
Midwest Flats
429 8th Ave NWFaribault, MN 55021
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
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$975 - $1,350
Plus Fees
1 to 3 Bedroom Apartments Available NowFour Seasons Apartments
1250 Autumn DrFaribault, MN 55021
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Rent Specials
$1,000 - $1,945
Plus Fees
Studio to 2 Bedroom Apartments Available NowStraight River Apartments, LLC
601 1st Ave NEFaribault, MN 55021
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1 to 2 Bedroom Apartments
Southgate Village
1518 9th Ave SWFaribault, MN 55021
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.
Showing Results 1-6, Page 1 of 1
Downtown Faribault, Faribault, MN Local Guide
How much does it cost to rent an apartment in Downtown Faribault?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Faribault Studio Apartments | $1,025 | $750 | $1,310 |
| Downtown Faribault 1 Bedroom Apartments | $1,249 | $750 | $1,425 |
| Downtown Faribault 2 Bedroom Apartments | $1,460 | $1,170 | $1,945 |
| Downtown Faribault 3 Bedroom Apartments | $1,683 | $1,350 | $1,955 |
| Downtown Faribault 4 Bedroom Apartments | $2,055 | $2,055 | $2,055 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 6 rentals with your search options within a 2 mile radius of the Downtown Faribault Neighborhood of Faribault, MN.
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Downtown Faribault, Faribault, MN Local Guide
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Cheapest Available Downtown Faribault Apartments for Rent
The cheapest available apartment rental in the Downtown Faribault area of Faribault, MN is a Studio unit found at Midwest Flats priced from $915. Four Seasons Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $975. Here are the most affordable Downtown Faribault apartments for rent in Faribault, MN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Midwest Flats | 0BR/1.0BA | Studio,1BA | $915 |
| Four Seasons Apartments | Cozy One Bedroom Apartment Home | 1BR,1BA | $975 |
| Town's Edge Place Apartments | 1 Bedroom | 1BR,1BA | $1,030 |
Best Value Apartments for Rent in Downtown Faribault, MN
As of May 05, 2026 the best value apartment in the Downtown 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 Downtown Faribault apartment is the 2/1 Model at River Trail 901 starting at $1,295 with a $1.30 price per square foot in the Downtown Faribault neighborhood. Here is today’s list of the best values for Downtown 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 | $1.50 |
| River Trail 901 | 2/1 | 2BR,1BA | $1.30 |
| Heritage Bluff Apartments LLC | 2 bedroom 1 bathroom | 2BR,1BA | $1.36 |
| Town's Edge Place Apartments | 3 Bedroom | 3BR,2BA | $1.50 |
| Riverchase Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.63 |
| Hillside Apartments | One Bedroom One Bathroom | 1BR,1BA | $1.30 |
| Four Seasons Apartments | Beautiful Two Bedroom Apartment Home | 2BR,1BA | $1.62 |
| Midwest Flats | 1BR/1.0BA | 1BR,1BA | $1.80 |
| Elmview Apartments | 1 BD/1 BA ADA | 1BR,1BA | $2.08 |
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.
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10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read ArticleDon'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.
Read ArticleThe 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.
Read ArticleCash 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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How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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Pet Friendly LifestyleDowntown Faribault, Faribault, MN
Ranked #1
Among cities in Minnesota for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Lifestyle Ratings
ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities across the United States including Downtown Faribault, Faribault, and the greater Faribault area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including searching for the best amenities, and proximity to parks, features that make it easier to raise kids, raising pets, transit options, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!
Frequently Asked Questions about Cheap Downtown Faribault Apartments
What is the Cheapest Studio apartment in Downtown Faribault?
Currently the most affordable Cheap Studio Apartment in Downtown Faribault is at Midwest Flats listed at $915.
How much is rent for a Cheap One Bedroom Downtown Faribault Apartment?
The lowest price for a Cheap One Bedroom Downtown Faribault Apartment is $975 at Four Seasons Apartments.
What is the lowest price for a Cheap Two Bedroom Downtown Faribault Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown Faribault is starting from $1,170 at Town's Edge Place Apartments.
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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.