Rentometer, Inc. | Data as of 10/22/2025
Faribault, Minnesota, offers a charming blend of small‑town character and easy access to larger metropolitan amenities. Nestled along the Cannon River, the city features a historic downtown with boutique shops, local cafes, and cultural attractions such as the Faribault Art Center and the historic Fort Knox. Residents enjoy a strong sense of community, well‑rated schools, and abundant green spaces including Riverbend Park and the expansive Mankato State University campus nearby. With convenient commuter routes to the Twin Cities, Faribault provides an appealing lifestyle for professionals, families, and retirees seeking a balanced, welcoming environment.
The local rental market reflects this variety, featuring a mix of apartments and single‑family homes that cater to diverse needs. One‑bedroom apartments typically rent in the $1160 range, with median prices hovering around $1150, making them an attractive option for young adults and couples. Two‑bedroom units are available in the $1450 range, while three‑bedroom apartments command approximately $1500, offering ample space for families or roommates. While houses are less common in the market, they add a valuable selection for those preferring a standalone residence. Prospective renters appreciate modern amenities, proximity to parks, and easy access to shopping and dining, all contributing to Faribault’s reputation as a vibrant and affordable place to call home.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,169 | $1,150 | $975 - $1,325 | $1,100 - $1,295 |
| Apartment | 2 Bedroom | $1,451 | $1,460 | $1,075 - $1,850 | $1,345 - $1,560 |
| Apartment | 3 Bedroom | $1,511 | $1,450 | $1,250 - $1,895 | $1,350 - $1,895 |
In the current period, the average rent in Faribault was
$1,169 for 1 Bedroom,
$1,451 for 2 Bedroom, and
$1,511 for 3 Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.