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

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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 $106,155, lower than the Minnesota average of $269,934.

The average cost of rent is $692/mo in Faribault County, primarily driven by the current value of real estate in the Faribault County area. While nearly 51.39% of residents own their homes outright in Faribault County, 21.29% rent.

Housing affordability isn’t just about home prices, though. The average household income in Faribault County is $4,704 per month. Households that rent pay about 14.72% of their income on rent here. Faribault County's most expensive areas are in the northeastern regions, while the cheapest areas are in the southeastern parts of the county.

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