Elmview Apartments
1740 Willow St,
Faribault, MN 55021
Studio - 2 Beds | $1,255 - $1,655
Rental Market Trends in Faribault, MN
Updated September 2026
The average rent in Faribault, MN is $1,085/month.
Rent in Faribault is 35% lower than the national average rent of $1,665/month, making this one of the less expensive cities statewide.
$1,085/month
Average Rent
679 Sq Ft
Average Size
+1.4%
Change / Year
86
Available Apartments
Faribault rent varies by unit size and layout:
- Studio apartments in Faribault average $1,024 per month.
- One-bedroom apartments in Faribault average $1,085 per month.
- Two-bedroom apartments in Faribault average $1,330 per month.
- Three-bedroom apartments in Faribault average $1,584 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Faribault, MN?
In the past year, rent has increased by 1.4%, which averages out to $16 more per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Faribault, MN
September 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
10%
Below $700/month
15%
$700 - $1,000/month
65%
$1,001 - $1,500/month
10%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
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 $1,085, you’ll want to make about $3,616 per month or $43,392 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.
View the Faribault Area GuideStudio
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Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Faribault?
The average rent in Faribault is $1,085 per month, which is 34.8% lower than the national average of $1,665.
Are rents going up or down in Faribault?
Rents in Faribault, MN are increasing, with prices up 1.4% year-over-year and $16 more per month.
What rent range is most common in Faribault?
In Faribault, MN, 65% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
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 September 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.