About This Property
Prairiewood Townhomes comprises 30 low-income units in Faribault, Minnesota, serving families and individuals with disabilities. The community, which opened in 2014, offers a mix of two-bedroom, three-bedroom, and four-bedroom floor plans. The property is funded through 9% Low-Income Housing Tax Credits and is owned by a non-profit organization.
Waitlist Information
Waitlist managed by Rice County Housing and Redevelopment Authority
Offers subsidized rental units in the Faribault area. Must be a current Rice County resident or have a household member that works in Rice County. Must be income eligible – less than 50% of Area Median Income.
The waiting list is currently closed. Sign up for notifications for when the waiting list opens.
Waitlist data provided by section8waitlist.org
Updated May 8, 2026
Property Details
Fair Market Rent - Rice County, MN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $913 |
| 1 Bedroom | $918 |
| 2 Bedroom | $1,206 |
| 3 Bedroom | $1,634 |
| 4 Bedroom | $1,932 |
Income Limits - Rice County, MN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $18,200
- Very Low (50%)
- $30,300
- Low (80%)
- $48,450
- Extremely Low (30%)
- $20,800
- Very Low (50%)
- $34,600
- Low (80%)
- $55,350
- Extremely Low (30%)
- $23,400
- Very Low (50%)
- $38,950
- Low (80%)
- $62,250
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $43,250
- Low (80%)
- $69,150
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $46,750
- Low (80%)
- $74,700
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $50,200
- Low (80%)
- $80,250
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $53,650
- Low (80%)
- $85,750
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $57,100
- Low (80%)
- $91,300
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $18,200 | $30,300 | $48,450 |
| 2 Persons | $20,800 | $34,600 | $55,350 |
| 3 Persons | $23,400 | $38,950 | $62,250 |
| 4 Persons | $26,500 | $43,250 | $69,150 |
| 5 Persons | $31,040 | $46,750 | $74,700 |
| 6 Persons | $35,580 | $50,200 | $80,250 |
| 7 Persons | $40,120 | $53,650 | $85,750 |
| 8 Persons | $44,660 | $57,100 | $91,300 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Faribault, MN?+
The Fair Market Rent (FMR) for Rice County, MN is: $913 (Studio), $918 (1BR), $1206 (2BR), $1634 (3BR), $1932 (4BR). Actual rent at subsidized properties like Prairiewood Townhomes is typically 30% of household income or less.
What size apartments are available at Prairiewood Townhomes?+
Prairiewood Townhomes offers the following unit types: 2 Two-Bedroom, 22 Three-Bedroom, 6 Four-Bedroom units, for a total of 30 units.
Is there a waitlist for Prairiewood Townhomes?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
What are the income limits for affordable housing in Rice County, MN?+
For a 4-person household in Rice County, MN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $43,250, Low Income (80% AMI): $69,150. These limits are set by HUD and updated annually.
What is the price range for apartments in Faribault, MN?+
Based on Fair Market Rent for Rice County, the estimated price range is: 2-bedroom: $1206, 3-bedroom: $1634. Actual rent at Prairiewood Townhomes may be lower for income-eligible households.
Who is eligible to live at Prairiewood Townhomes?+
Prairiewood Townhomes primarily serves families, persons with disabilities, MENTAL ILLNESS. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Prairiewood Townhomes?+
Prairiewood Townhomes is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Prairiewood Townhomes?+
Prairiewood Townhomes is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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