The Most Affordable Neighborhoods in Faribault, MN by Home Value

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 $268,628, lower than the Minnesota average of $345,793.

The average cost of rent is $1,141/mo in Faribault, primarily driven by the current value of real estate in the Faribault area. In Faribault, 30.49% of households rent, and 38.94% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Faribault is $5,906 per month. Households that rent pay about 19.32% of their income on rent here. Faribault’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.

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

No other site shows detail at this level for free. We are able to keep this site free by receiving a small commission from the referring links below if you book, rent, or request a lead at no cost to you. Please share or cite this page if you aren’t able to otherwise support our work.

Map interface © Mapbox © OpenStreetMap Map data and content © bestneighborhood