Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Faribault area can be challenging. Home prices in Faribault are now at a median cost of $196,421, lower than the Minnesota average of $269,934.
The average cost of rent is $947/mo in Faribault, primarily driven by the current value of real estate in the Faribault area. While nearly 39.03% of residents own their homes outright in Faribault, 31.69% rent.
Housing affordability isn’t just about home prices, though. The average household income in Faribault is $5,563 per month. Households that rent pay about 17.03% of their income on rent here. Faribault's most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Prairieville, MN: higher priced homes
- Warsaw, MN: higher priced homes
- Ruskin, MN: higher priced homes
- Shieldsville, MN: higher priced homes
- Medford, MN: equally priced homes
- Dundas, MN: higher priced homes
- Morristown, MN: higher priced homes
- Millersburg, MN: higher priced homes
- Nerstrand, MN: higher priced homes
- Merton, MN: higher priced homes
Cities with Similar Populations
- Temple Terrace, FL: higher priced homes
- Bristol, VA: less expensive homes
- Carbondale, IL: less expensive homes
- Centereach, NY: higher priced homes
- Wasco, CA: equally priced homes
- Forest Hills, MI: higher priced homes
- Uniondale, NY: higher priced homes
- Tujunga, CA: higher priced homes
- Corbin, KY: less expensive homes
- Castaic, CA: higher priced homes
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