The Most Affordable Neighborhoods in Faribault County, MN by Home Value

These days, finding an affordable place to live in the Faribault County area can be challenging. Home prices in Faribault County are now at a median cost of $141,171, lower than the Minnesota average of $345,793.

The average cost of rent is $845/mo in Faribault County, primarily driven by the current value of real estate in the Faribault County area. In Faribault County, 20.81% of households rent, and 54.40% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Faribault County is $5,671 per month. Households that rent pay about 14.90% of their income on rent here. Faribault County’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the county.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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