The community has the name of E. T. Faust, a railroad officer.
As a designated place in the 2016 Census of Population conducted by Statistics Canada, Faust recorded a population of 261 living in 117 of its 152 total private dwellings, a change of −5.1% from its 2011 population of 275. With a land area of 4.59 km2 (1.77 sq mi), it had a population density of 56.9/km2 (147.3/sq mi) in 2016.
As a designated place in the 2011 Census, Faust had a population of 275 living in 115 of its 157 total dwellings, a -13.2% change from its 2006 population of 317. With a land area of 4.77 km2 (1.84 sq mi), it had a population density of 57.65/km2 (149.3/sq mi) in 2011.
- Alberta Municipal Affairs (2010-04-01). "Specialized and Rural Municipalities and Their Communities" (PDF). Retrieved 2010-06-20.
- Place-names of Alberta. Ottawa: Geographic Board of Canada. 1928. p. 50.
- "Population and dwelling counts, for Canada, provinces and territories, and designated places, 2016 and 2011 censuses – 100% data (Alberta)". Statistics Canada. February 8, 2017. Retrieved February 13, 2017.
- "Population and dwelling counts, for Canada, provinces and territories, and designated places, 2011 and 2006 censuses (Alberta)". Statistics Canada. 2012-02-08. Retrieved 2012-04-07.
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