Minnesota, known as the "Land of 10,000 Lakes", boasts breathtaking landscapes and a thriving arts and cultural community that enchants you. Immerse yourself in Minnesota's roots and history through the City Museum and the Science Museum of Minnesota, or invest in your education through the University of Minnesota, St. Cloud State University, and Minnesota State University, Mankato. In addition, residents can enjoy a vibrant arts and cultural scene in the Twin Cities of Minneapolis and St. Paul, including the famous Walker Art Center and the Minnesota Orchestra, providing a wealth of entertainment options.

Sports enthusiasts can enjoy cheering on professional teams such as the Minnesota Vikings (NFL), Minnesota Twins (MLB), and Minnesota Timberwolves (NBA), providing ample opportunities for excitement. Explore famous attractions like the Mall of America, the James J. Hill House, and the historic town of Duluth, each providing a unique glimpse into Minnesota's history and culture. In addition, the state offers many outdoor recreation opportunities, from boating and fishing in its 10,000 lakes to skiing in the Minnesota River Valley.

Minnesota offers a unique blend of natural beauty, quality of life, and affordability, making it a great place to call home.

Rental Market Trends

Faribault, MN

As of August 2025, Faribault's rental market is stable, offering a predictable rental market where most units lease within a few weeks. Faribault's average rent is 1.2% ($18) higher than the Minnesota average of $1,496 and 15.4% ($276) lower than the U.S. average of $1,790.

Average Rent

$1,514

Monthly ChangeMonth Over Month Change

1.4% ($22)

Yearly ChangeYear Over Year Change

20.8% ($261)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,283	1.7% ($22)	13.2% ($150)
2 Beds	$1,560	0.5% ($8)	2.5% ($38)
3 Beds	$1,895	0.6% ($11)	7.2% ($128)

Nearby Cities	Average Rent	Avg. Rent vs. FaribaultAverage Rent vs. Faribault	Avg. Days on MarketAverage Days on Market
Northfield	$1,626	7.4% ($112)	47 days
Kenyon	$1,537	1.5% ($23)	41 days
Owatonna	$1,340	11.5% ($174)	42 days
Waseca	$880	41.9% ($634)	45 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Faribault Rental Market FAQs

Explore rental prices, market trends, and availability in Faribault, MN.

What is the average rent in Faribault, MN?

The average rent in Faribault, MN is $1,514 per month.

What is the rental price range for homes in Faribault, MN?

Homes in Faribault typically rent for between $898 and $2,464 per month, with an average of $1,514 per month.

What is the average rent for different bedroom sizes in Faribault, MN?

In Faribault, the average rent for a 1-bedroom home is $1,283 per month, for a 2-bedroom home, $1,560 per month, and a 3-bedroom home is $1,895 per month.

How do rent prices in Faribault, MN compare with the national average?

The average rent in Faribault is 15.4% ($276) lower than the national average of $1,790 per month.

How have rent prices in Faribault, MN changed recently?

The average rent in Faribault has decreased by 1.4% ($22) in the last month and increased by 20.8% ($261) over the past year.

How competitive is the rental market in Faribault, MN?

The rental market in Faribault, MN, is currently stable, offering a predictable rental market where most units lease within a few weeks.

How long do rentals stay on the market in Faribault, MN?

In Faribault, MN, the average rental stays on the market for approximately 47 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Faribault, MN?

There are currently 7 rental properties available in Faribault, MN.

Can I afford to rent a home in Faribault, MN?

Based on the current averages, a household would need an annual income of $62,400 to comfortably afford a 2-bedroom home in Faribault.