Trails Edge Apartments LLC
715 Central Ave,
Faribault, MN 55021
$1,150 - $1,695 Plus Fees
1-3 Beds
Rental Market Trends in Faribault, MN
What is the average rent in Faribault, MN?
$1,101/month
Average Rent
677 Sq Ft
Average Apartment Size
+3.1%
Increase in the Last Year
As of April 2026, the average rent in Faribault, MN is $1,101 per month. This is 33% lower than the national average rent of $1,641/month, making renting in Faribault more affordable than most cities in the US. When you rent an apartment in Faribault, you can expect to pay about $1,025 per month for a studio, $1,101 for a one-bedroom apartment, and around $1,307 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,513 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Faribault, MN?
In the past year, rent has increased by 3.1%, which averages out to $35 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated April 2026
Legend
2025
2026
Rent Ranges in Faribault, MN
Last Updated April 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
15%
Below $700/month
10%
$700 - $1,000/month
70%
$1,001 - $1,500/month
5%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Faribault?
Based on current rent prices, Lexington Square is the most affordable neighborhood in Faribault.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Faribault?
Based on current rent prices, Lexington Square is the most expensive neighborhood in Faribault.
Neighborhood
Average Rent
Average Sq Ft
Which Faribault neighborhoods have the most rentals available?
The neighborhood in Faribault with the most apartments available is Lexington Square .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Faribault, MN?
Because the average rent in Faribault is $1,101, you’ll want to make about $3,670 per month or $44,040 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Faribault, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Faribault, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
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Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.