Minnesota · Census place 20546
Faribault city, MN
Quick answer
Faribault city has 24,458 residents, ranking #44 of 914 places in Minnesota. Median household income is $61,662, the median home is worth $233,900 and median gross rent runs $1,041 a month.
- Population
- 24,458Faribault city residents
- Median household income
- $61,662Past 12 months, inflation adjusted
- Median home value
- $233,900Owner-occupied units
- Median gross rent
- $1,041Rent plus utilities, monthly
- Median age
- 38.4 yrsAll residents
- Homeownership rate
- 65.4%Owner-occupied households
What the numbers mean in Faribault city
Housing cost measured against local earnings.
A household earning the Faribault city median would spend about 20.3% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 3.8× the median household income; nationally that ratio sits near 4.5×. Poverty affects 15.9% of residents and 65.4% of households own their home.
Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year
Compare with nearby places
Places of similar size in Minnesota.
- Austin city 26,167
- Chanhassen city 26,001
- Winona city 25,998
- White Bear Lake city 24,026
- Farmington city 23,675
- Champlin city 23,450
- New Brighton city 22,900
Keep going
More Minnesota coverage.