What it's like to live in Faribault
Faribault is a small city in Minnesota with rent below the national average, home prices that remain within reach, commutes that run shorter than most cities, and schools with smaller class sizes than the national average. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Faribault deals with household incomes below the national average, college degree attainment below the national average, a rent burden that leaves many renters stretched thin, and cold, harsh winters.
The good
- Rent below the national average
- Affordable home prices
- Short commutes
- Low student-teacher ratio
The not so good
- Below-average household incomes
- Low college degree attainment
- High rent burden for renters
- Cold, harsh winters
- Snowy winters — 43" per year
- Smaller place — fewer dining and entertainment options
How Faribault compares
Median household income
Median rent (per month)
Median home value
What it takes to move to Faribault
Based on Faribault's median rent, home value and household income
To rent
$2,148
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $42,960 a year
- 53% of Faribault renters spend 30% or more of their income on rent
To buy
$48,300
a 20% down payment on the median home
- With 10% down: $24,150
- Homes cost 3.9× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of living▼ 24% below US
$1,074/mo median rent
Cost of living works in this city's favor. Median rent sits around $1,074 a month, nothing that raises eyebrows. Solid value overall. Home prices are reasonable, with a median around $241,500. Not a steal, but not intimidating either.
Median home value $241,500 · 53% of renters cost-burdened
Job market
3.9% county unemployment
Unemployment in Rice County is 3.9%, close to the national average of 4.3%. That's the county-wide rate; BLS doesn't measure a place this size on its own.
Rice County (county-wide)
Safety▼ 24% below US
251 violent crimes per 100k
Pretty safe, all things considered. Violent crime sits below the national average, nothing alarming, just ordinary city-life awareness.
Property crime 960/100k · Faribault Police Department · 2025 data
Getting around▼ 27% below US
19 min average commute
Commutes are reasonable, averaging 19 minutes. Nothing heroic, and there's still time left over for a life after work. 9 in 10 workers drive to work; 6% work from home.
How workers get to work
Climate
Summers are warm, with highs around 80°F, and winters are cold and harsh, with lows dropping to 8°F.
Average month
30-year averages, 1991–2020
Healthcare
1 hospital
There's one Medicare-certified hospital inside city limits, rated 3.0 out of 5 by Medicare. Hospitals in neighboring towns aren't counted here.
Medicare-certified hospitals
Education & workforce▼ 51% below US
18% bachelor's degree or higher
This is a working-class city, and college degree rates reflect that. Trades, manufacturing, and service industries tend to dominate the local economy, which is a strength for some fields and a real constraint for others.
Schools
21 public schools inside the boundary
There are 21 public schools inside the boundary and 4 private schools. The student-to-teacher ratio is 11:1, well below the national average of 16:1. Smaller class sizes are generally a positive sign for a district.
Parks & recreation
The nearest national park or historic site is Mississippi National River & Recreation Area (45 miles away).
Bottom line
Faribault's strongest points are rent below the national average and home prices that remain within reach; the main tradeoffs are household incomes below the national average and college degree attainment below the national average. A year of median rent ($1,074/mo) equals 21% of the median household income here, about the same as the 21% typical nationwide. It tends to suit people watching their budget and people who want short commutes. It may be a harder fit for anyone who doesn't drive and anyone who dislikes long, cold winters.
Other places near Faribault
All Minnesota guides →Moving to Northfield →
12 mi away · pop. 20,742
Rent $1,103/mo · Income $84,895
Compare with Faribault →Moving to Farmington →
25 mi away · pop. 23,902
Rent $1,241/mo · Income $123,673
Compare with Faribault →Moving to Lakeville →
26 mi away · pop. 74,354
Rent $1,806/mo · Income $139,041
Compare with Faribault →Not sure Faribault is the one?
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