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Farmington, MN Condos for Rent

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  • 349 3rd St Unit The Oak Room, Farmington, MN 55024
    349 3rd St Unit The Oak Room, Farmington, MN 55024
    349 3rd St Unit The Oak Room, Farmington, MN 55024
    /16

    $1,325

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 800 Sq Ft
    • Condo for Rent

    349 3rd St Unit The Oak Room, Farmington, MN 55024

    Located in the heart of historic, downtown Farmington. This apartment boasts of 12 foot ceilings and original wainscoting. Not a cookie-cutter apartment. It is closely surrounded by parks, the library, walking trails, churches, a trout stream, and several restaurants. All-in-all a cozy place to exist.

    349 3rd St Unit The Oak Room, Farmington, MN 55024
  • 808 2nd St Unit 3, Farmington, MN 55024
    808 2nd St Unit 3, Farmington, MN 55024
    808 2nd St Unit 3, Farmington, MN 55024
    /7

    $1,250

    Total Monthly Price

    • 2 Beds
    • 1 Bath
    • 910 Sq Ft
    • Condo for Rent

    808 2nd St Unit 3, Farmington, MN 55024

    Recently remodeled 2 bedroom, 1 bath unit with large yard in the heart of downtown Farmington. Laundry. Landlord pays for water and trash. Freshly painted.What Sets Olson Companies Apart?At Olson Companies, we’re more than just property managers — we’re a small, family-run business that treats every home and tenant with care. Unlike larger firms, we take pride in maintaining

    808 2nd St Unit 3, Farmington, MN 55024
Minnesota Dakota County

Condos for Rent in Farmington, MN

Frequently Asked Questions

How much does it cost to rent a condo in Farmington, MN?
The median rent for a condo in Farmington, MN is $1,288 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Farmington, MN?
To comfortably afford the median rent in Farmington, MN, a household needs to earn roughly $85,960 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,149 per month in Farmington, MN, renters typically need to show $6,447 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Farmington, MN?
In Farmington, MN, the price-to-rent ratio is 14.9, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Farmington, MN are best for renting a condo?
The best neighborhood for renting in Farmington, MN depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include East Bloomington and West Bloomington, each with its own character and price range.

Condo Rental Trends in Farmington, MN

There are currently 2 condos available for rent in Farmington, MN. The median rent is $1,288 per month, with 1-bedroom condos renting at $1,325 and 2-bedroom condos at $1,250.

Rental Home Trends

Number of Condos for Rent
2
Median Condo Rent
$1,288
Median 1 Bedroom Condo Rent
$1,325
Median 2 Bedroom Condo Rent
$1,250
How to Rent a Home

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