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Rent to Own Homes in Faribault

Rent to Own Homes in Faribault, MN

Faribault is located just east of Cannon Lake, Roberds Lake and Wells Lake in southern Minnesota. This region sits approximately 45 miles south of Minneapolis and about 45 miles northwest of Rochester. In addition to the large nearby lakes, the city gives residents many options for outdoor recreation. Some of the hot spots include Legacy Golf, North... Read More

Rent to Own Homes in Faribault, MN

Faribault is located just east of Cannon Lake, Roberds Lake and Wells Lake in southern Minnesota. This region sits approximately 45 miles south of Minneapolis and about 45 miles northwest of Rochester. In addition to the large nearby lakes, the city gives residents many options for outdoor recreation. Some of the hot spots include Legacy Golf, North Alexander Park and the River Bend Nature Center.

Central Avenue serves as Faribault’s main street and is actively being updated to turn old buildings into small businesses and modern entertainment venues. For instance, the Faribault Area Community Theatre building was connected to the old Faribault Art Center to create the Paradise Center for the Arts. There are still many historical buildings within city limits, including the Alexander Faribault House.

The below results are primarily rent to own homes in :

Faribault Rent to Own Homes & Homes for Sale (323 Listings Found)
Owner Financing Hot

Faribault , MN 55021

3 Bedrooms, 2 Baths  

$222,000
More Details
Owner Financing

Faribault , MN 55021

5 Bedrooms, 2 Baths  

$119,500
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REO Foreclosure

Faribault , MN 55021

4 Bedrooms, 2.5 Baths  

$86,111
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REO Foreclosure

Faribault , MN 55021

3 Bedrooms, 1.5 Baths  

$123,400
More Details
REO Foreclosure

Faribault , MN 55021

3 Bedrooms, 1 Baths  

$143,400
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REO Foreclosure

Faribault , MN 55021

2 Bedrooms, 1 Baths  

$158,900
More Details
REO Foreclosure

Faribault , MN 55021

3 Bedrooms, 1.5 Baths  

$123,193
More Details
REO Foreclosure

Faribault , MN 55021

4 Bedrooms, 1 Baths  

$88,201
More Details
REO Foreclosure

Faribault , MN 55021

2 Bedrooms, 2 Baths  

$83,160
More Details
REO Foreclosure

Faribault , MN 55021

3 Bedrooms, 1.5 Baths  

$114,400
More Details
REO Foreclosure

Faribault , MN 55021

2 Bedrooms, 2 Baths  

$165,199
More Details
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Rent to Own Homes in Faribault, MN

Faribault is located just east of Cannon Lake, Roberds Lake and Wells Lake in southern Minnesota. This region sits approximately 45 miles south of Minneapolis and about 45 miles northwest of Rochester. In addition to the large nearby lakes, the city gives residents many options for outdoor recreation. Some of the hot spots include Legacy Golf, North Alexander Park and the River Bend Nature Center.

Central Avenue serves as Faribault’s main street and is actively being updated to turn old buildings into small businesses and modern entertainment venues. For instance, the Faribault Area Community Theatre building was connected to the old Faribault Art Center to create the Paradise Center for the Arts. There are still many historical buildings within city limits, including the Alexander Faribault House.

Faribault Woolen Mills was one of the leading employers for Faribault residents until 2009. Today, most jobs are within the retail and food service industries. There are some small businesses located in the downtown area, and some residents commute to surrounding areas for employment.

One of the most well-known features of the Faribault community is the Minnesota State Academies for the Deaf and for the Blind. These specialized schools are supported by the State Library for the Blind, which is also located within city limits.

Buying vs Rent to Own Homes

If buying a home in the Faribault area is on your to-do list for the next year or two, you might find rent-to-own homes interesting. These properties come with a specialized contract that allows you to rent today and buy tomorrow. You typically have a year or longer to secure financing and close the deal, and in the meantime, you pay rent each month. Some contracts set aside a portion of each rental payment, and you can use that money toward the eventual purchase of your new home. This is a great way to get settled into a new home before you’re fully prepared to secure financing for a home.

Summary

Faribault is a small town in southern Minnesota with approximately 24,000 residents. This is a scenic region of the state that is a short drive from three large lakes. Residents also have access to some family-friendly parks and golf courses within city limits. The city is home to specialized schools for the deaf and blind, including a library that caters to that population. With a median home price often falling well below $200,000, affordable housing is readily available in Faribault. The overall cost of living is comparable to the national average.

  • 55021

Reported Annual Crime In Faribault

Statistic Faribault Minnesota National
Murder 2 133 15,696
Rape 14 2,321 124,047
Robbery 9 1,686 327,374
Assault 42 3,771 764,449
Violent Crime 67 13,319 1,197,704
Burglary 64 121,984 1,579,527
Theft 416 19,299 5,706,346
Vehicle Theft 44 94,704 707,758
Property Crime 524 7,094 7,993,631

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Other Cities in Minnesota

  • Rent to own homes in Rochester
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